“Wonder if that will change anything in the North county Coastal market that has been stuck for the time being.”
Seems like this has gotten into a bit of a pissing contest between 2 sides and the original questions isn’t being answered. If we want to stay ahead of this market and make the prudent choices we have to look at things on a broader scale. In the short term and in certain areas will we see a positive from this…yes. In the long run and the big picture will it make a big difference in the direction of the market…no. IMHO
Gents, the macro economic forces going on here are large and very hard to quantify. But if you want to bet on the side that is more likely then not you have to be on the side of home prices are still heading down. Any short term slowing or pops that we get from this years selling season will be in my opinion short lived. The major pillars of this housing bubble are now gone and we are still a long way off before this has totally played out in the market. If the government continues to try and bail out everyone and keep this bubble afloat, we have the potential for a very dire situation. Stay a renter if you are and keep your money and assets safe and liquid. Patience here is your friend and if you get caught up in the hype and jump back in thinking we are at some sort of V shaped bottom, I am afraid you will regret it.
