[quote=profhoff]Is it a bubble? Listing prices in NCCSD are insane. I mean really. 30-40% above comps from mere months ago.
I get that inventory is tight, but it’s my feeling that if the stupid money comes in and locks in comps at these new prices, we are definitely in a bubble.
Soros is putting it into gold, China is facing hard times, and it sure feels like a recession is coming.
Meanwhile, many houses are just sitting and sitting and if you look on Zillow, it looks like the “pre-foreclosure” inventory is starting to increase.
Just saying…[/quote]
You are being a little hyperbolic. Your own example is not “30-40% above comps from mere months ago”. The house has a 17.1% increase from over 1 year ago. 17.1% is a big increase but nowhere near 30-40%.
You are also looking at the 92014 zipcode. This is most exclusive area in North County San Diego. It is hardly reflective of the “Listing prices in NCCSD”.
“Soros did come out earlier this year to warn of another 2008 crisis which didn’t happen and stocks kept surging higher. So maybe he’s trying to influence markets one way to make money off his trading positions.”
