sdr, see how anxious we all are to talk housing again?!?
I have to respect what you and other realtors out there are seeing and predict, however…I simply can’t imagine those 600k + homes really moving into a spring bounce of any sorts. Money is getting tighter, the layoffs are starting to really hit home, millions lost in investments, more negative news, etc etc…on the news tonight the talk of the US auto industry and how it affects numerous SD business including the dealers who have already laid off or closed their doors.
When stock prices dip this drastically, companies can’t raise cash, higher paying SD jobs are at risk…in addition, have you looked at the current Employment opportunities in SD? They are nonexistent, the jobs that are there, are not high paying, and don’t support a 600k + home purchase!
I agree with SD R, I think currently there are bubblesitters that are tired and exhausted of waiting it out (I have to admit it’s not easy), but these buyers will quickly be burned through, and what buying pool is left for the high priced areas?
I personally look at what’s on the market in good school districts in the 500k+ price range and for this you get a run down junker….no thanks.
I think we have just begun to feel the pain in the higher end areas…as foreign money gets squeezed more as well…the momentum of sales as of late will slow greatly…not a bounce, but time will tell!
