August 25, 2006 at 9:53 AM #7306greekfireParticipant
Came across this page the other day. I don't know if this has been posted before, but there are some really good graphs concerning home prices and demographics. You have to download and open the PowerPoint files to see them.
Rich – I recommend you take a look at these if you haven't yet. There's a lot of good information that you might be able to use against Lee Sterling.August 25, 2006 at 3:12 PM #33289powaysellerParticipant
Thanks for that link. I had not seen this site before. David Lereah’s last presentation was surprising; he admits the rough times ahead. It’s quite different from what he says on TV.August 25, 2006 at 6:16 PM #33333rankandfileParticipant
The guy may be the enemy, but he comes up with some pretty bitchin graphs. I think that there were a few slides that were smoke, but most seem to be in line with what we have been pointing out in the SoCal market for some time: rising costs, stagnant wages, net migration out of Cali, etc.
I thought it was a bit telling to see his slides on immigration. I can’t remember which presentation file it was, but he seemed to basically show that immigrants will be making up a major portion of America’s population in the future and that they are a potential market for real estate. I always had an inkling that the real estate industry was in favor of illegal immigration and seeing this helped confirm my suspicions.August 25, 2006 at 6:50 PM #33335UTC renterParticipant
these graphs tell a very different story than NAR media snippets. Interestingly, he singles out SD several times, especially when highlighting the incredibly high mortage/income ratio (45%). This is on slide 25 of this latest presentation from the Leadship Summit (August 2006).
Thanks for a great link!August 25, 2006 at 7:19 PM #33338HereWeGoParticipant
Now that cash-out refis are evaporating, due to appreciation capping or even turning, what will happen to consumer spending in San Diego?
45% of income to mortgage debt service??? On average??? Wow!August 25, 2006 at 8:27 PM #33343RomanParticipant
Indeed a great and insightful presentation. For the longest time, I wished I were a fly on the wall to some of the NAR meetings. I wonder no more…….reality check is here.
Thank you for the article
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