The general public, at large, are like dinosaurs. When you kick them in the butt, they will turn their head and say, “what happened”(?) a year later. It’s just now starting to sink in the brains of many people that if they wait, they will get a much lower price for a home in CA. All of the news media has finally homed in on this story and people are turning their heads and saying, “so that’s what’s happening” in the real estate market. There will always be “knife catchers” who are impulsive buyers and will continue to buy over the next few years but the number of people who can qualify for a loan in CA has shrunk dramatically and out of that pool, more are getting educated and starting to realize that they no longer have to pay too much or compete with other people to buy a home. For me, this whole thing is fascinating to watch.
