[quote=The-Shoveler]IMO there maybe micro bubbles but SoCal in general is not in a bubble yet.
Even if you have a bubble it is very unlikely to come close to the one we had in 2005-7.
There are still a few relative bargain areas in SoCal, just maybe not in coastal SD county.
Anyway IMO.
After taking a tour through AZ and NM, to be honest I would be a lot more nervous buying a 600k tract home there than a 1-Million home in say Carlsbad.[/quote]
shoveler, I haven’t toured any housing in those states but have driven through them and stayed overnight in them numerous times.
I agree with you re: every AZ/NM locale except for the PHX eastern suburbs. I think the market is shaky in the rest of the locales in those states. Even in Tucson and ABQ. My reasoning is due to lack of a solid job base and lower than average pay. A good portion of Santa Fe and Flagstaff’s residents are moneyed retirees but there isn’t much of a job base in either city except tourism. And overall, both of those states have lower household incomes, mainly due to their being inhospitable (environment-wise) and the proliferation of Native Americans living on their own land. I don’t think RE in either state is a good investment unless one is purchasing their final home for retirement purposes. And even then, it wouldn’t really be an “investment,” but a forever home for the end-user.
