the international markets are doubling down in a big way with the subprime markets. the initial results will reap great benefits, but the long term won’t pan out – in the least bit. REO departments in even the smallest lenders are quadrupling their portfolios – and not moving the properties. how can that NOT effect the institutional guys? i’m not saying i’m 100% but when lehman says they have over 1,000 reo’s somethings seriously wrong.
d,
japan is a great parallel – our consumer patterns, industrial growth etc. our residential market today is to what they view US commercial real estate in the late 80’s a sharply inflated commodity.
we will have pockets of sharp decline and an overall flattening. depending on media coverage AND government regulation – the areas that just go flat will either slowly grow or slowly decline.
the consumer (masses) is (are) in charge here. who will fight for their minds and $$? media? politicians? or people who have seen it all along?
PS and SDR, thanks for the feedback on data sources. CJ, that’s interesting that RC didn’t use regression analysis on the data set; that gives me confidence that there’s room for simplification.
I’ll keep you apprised of my efforts!
Not sure if this is what you’re looking for but here is some data collected by the UT going back to 1998.
http://realestate.signonsandiego.com/area_homesales/pastyears.php
Somebody else posted this on another thread.
jg, I’m working on something too. If you’re interested, e-mail me at [email protected].