Prices will at least retrace to 1997 levels across the board to come in line with wages that are not increasing but rather decreasing. There are still areas that are way overpriced and will come down that amount, trust me.
I live in a complex that costs me $1760.00 a month to rent and the price to own is around $3500.00 per month (La Jolla Woodlands). There are around 25 props out of 125 that are upside down?
You really think that people who have a, now 101K, are going to be buying RE? They need that money to live out the rest of their lives. I have friends worth more money than God and they won’t touch anything in this market for another 2.5 years. You think pensions are safe?
Whatever your smoking it must be good stuff…go buy some houses in Riverside for rentals….are you a RE Agent?
