I though this link to a David Lereah PowerPoint NAR Leadership Summit 8/17-8/18 I found on another site would be of interest. Intersting refrences to San Diego market, economics and population.
I apologize for not creating a direct link but have never been good with html.
I like the San Deigo year over year historical appreciation chart. It’s all nominal pricing, but what it shows is that from 1991 to 1997, prices decreased approximately 5% or less annually with a couple dead cat bounces.
Buyer and investor psychology will be dramatically different if we have substantial quick nominal falls hitting double digits. A 3, 4 or even 5% “pull-back” is a “buying opportunity” when it gets above and hits the psychological 10%, it’s a problem that can’t easily be soft-sold.
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