OK Don’t shoot me, but that is something I have been saying for a while,
Basically Home building has been shut down in SoCal for 2-3 years, Now there was a lot of over building between 2001-2006 but the under building far exceeds what was being over built.
IMO I think your going to need that wave of foreclosures everyone talks about just to keep up with demand unless builders start building again.
