was searching redfin last night. Specifically downtown SD. I started to notice the lack of listings. Made me wonder if the actual available inventory is larger than statistically shown. Do we know if developers are holding back their available inventory numbers? At what point does it become inventory to the public? If a developer takes a property off the market, even if it is vacant, how does that get counted or doesn’t it?
Also, I recall about 4 years ago when this blog started, people were calling out 09 as the year things would start to turn around. I could be wrong, but 09 is starting to look to me like the year things are going to really start hitting the fan full speed and really falling apart. Where the over-priced homes are going to start hitting families that at one point could easily afford their mortgage.
1) in 04 seems to me that housing was over priced (Still is).
2) in 07 the home loan industry started to tighten lending practices
3) in late 07 the economy started to take a dump
4) in 08 energy and food prices started to rise
5) in 09 Stagnation.
6) Obama will have to deal with the 2nd great depression (Thanks Greenspan)
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