[quote=sdcellar][quote=sdrealtor]Tell me again we dont have a large amount of pent up demand building.[/quote]I don’t think anybody denies that pent up demand is out there. Heck, Piggington’s alone is chock full of it. I just question if the number is as high as you’ve put forth. I’ll certainly give you credit for throwing a number at it though![/quote]
Remember, in the first-order, demand is a fuction of price. You can’t say there is or is not pent-up demand unless you specify a price.
As was mentioned earlier, there is pent-up demand for beach houses at $400K, but not at $3M.
I’m sure there is pent-up demand because lots of people are sick of renting or they want to move to the nice neighborhood. But is there pent-up demand at prices much higher than they are today or are people just going to bid at or near the asking price but leave it be if they aren’t the highest bidder ?
i.e. is there really any price pressure or just a bunch of people maybe already aiming higher than they really should be aiming ? I think the stories you provided, though interesting, don’t tell us either way.
I wonder if the end of Fed mortgage purchases at the end of March will A) happen and B) have an effect.
