“Unfortunately for many, PB likely is not going to be affordable for the middle class again.”
I vehemently disagree. I am watching PB vigilantly and can tell you little cracks are spreading. Condos are taking some major hits and condos are the first to go. Checking on defaults, many turn into foreclosures. Many of the defaults are on the market. The defaults and foreclosures are bringing down comps. In the Plaza alone, I have see prices fall and sit a looong time.
It’s only a matter of time. SFH are selling in the 650-700 range already, at one time were higher. I would not be surprised to see prices next year at 550-600k, townhomes down to 350-400k.
Only an act of God is going to change that. There has to be some miraculous rescue that not only stops what’s in the works, but reverses it.
