Hi Piggs
I am a long time reader of this forum and have greatly benefited from collective wisdom of the folks who regularly post their opinion and advice in this forum. Above all, the research & stats that Rich has been posting have been very enlightening
In fact,Piggs forum is the reason that I backed out a purchase contract in 2004 sensing the bubble & its immiment burst. I ended up buying my 1st home in 2008.
Fast forward 7 years and here I am again, in the market, looking to upgrade and I find a market that seems to be gradually over-heating with a pattern simillar to what it was in 2004. Prices have gone up and beyond 2006-2007 level, homes get picked up rather fast, new homes get sold out in the 1st day of release as if there is no tomorrow.
Isn’t this a bubble forming or is the local san diego housing market is on a secular growth trend?
Granted there is no sub-prime this time,lot more all-cash buyers, lots of overseas buyers etc but it looks very unreal.However, are certain section of buyers over-leveraging themselves? Is the cheap money from fed creating this forth? If and when Interest rate rises, wont this be impacted?
Would like to hear what the outspoken piggs in this forum think. Discussion on this topic has been rather mute which makes me think that perhaps there is no bubble.
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