[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
