Like someone else stated in another thread. There are too many headwinds to remotely call a bottom right now anywhere. Temecula/Murrieta face even more headwinds being considered an exurb.
Don’t expect everyone to go buy the next gen prius or the new Chevy Volt either and solve all of their commuting problems, its not like people have the money right now.
The cost of living, excluding-housing, has risen dramatically over the past 2 years. Employment is soft and is likely to worsen. Interest rates are on the rise. I don’t have to mention oil and gas. Inventories are massive, and I suspect, so are the shadow inventories. Foreclosure fillings surged in May. I welcome any evidence that supports anything resembling a bottom other than…
“It costs less to buy a home than it does to build one.”
“TODAY’S rental rates are about the same cost as buying, that means a bottom!”
“We are at 50% off in some instances!”
“Piggs are buying, which indicates a bottom.”
“It just can’t get any worse, this is socal..”
