[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]
Thanks for clarifying that, sdr.
From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.
It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.
The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.
