My thought is, if it doesn’t bottom till 2012-13, it will not bottom till 2050 or so. Because “retiring baby boomers dumping their build in the 70’s shitboxes filled with lead and asbestos to ‘fund their retirement’ will effectively make a house worthless”
However, that really applies to places that have opressive weather – like Minnesota, insane retiree taxes like CA etc etc …
But if you think about it, SD and LA may have the retirement thing going for them, OK weather, available under class to do jobs they cannot, and I know commutes and smog are crazy, but lets face it, retirees wont be doing commuting. Essentially if its a retiree magnet, and doesn’t have a large pool of aging homeowners (who’d be dying) it can be OK after 2015. I however believe they will first try to sell and get out to New Mexico or somewhere where they can live off the $$ form sale of the house.
Anyway, 2012 for recovery, or 2050 is going to be the trend for most of northern US. Does CA buck the trend, IMHO, too close to call. Is CA northern or southern ???
Cool.
Cow_tipping.
