Of the just finished and still in development communities around San Diego.. which do you think the developers are most desperate in?
If I could get a place for 30% off in either price or concessions I would consider buying.. in the 200-300 range.
We can be sure prices will eventually be back up since our economy centers around lots of inflation.. I am less sure that interest rates an lending will ever be this friendly again though, as fixed loans dissapear for the more profitable IO etc..
Don’t worry. There’ll still be plenty of credit to be had.
It used to be that credit cards were only give to the rich. But now everyone has a dozen of them. Lax lending is here to stay. Lenders will use computer models to spread the risk to borrowers.
I believe that the smaller developers are more at risk. But they are also least likely to offer concessions simply because they don’t have as much wiggle room.
Condo converters such as Premier Coastal are most at risk.
If you want a SFR for $200-$300 you have some time wait. I don’t have a crystal ball but $350k (with some years of stagnation) might be as low as it goes.
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