San Diego Housing Market News and Analysis
How things normalize
User Forum Topic
Submitted by Escoguy on July 7, 2017 - 9:09pm
So yes prices continue to rise in SD. Inventory is tight and rents are rising.
But somehow methinks there are subtle trends below the surface which are happening and will gradually bring us to a more sustainable place.
Not that price need to fall, but they certainly don't need to rise faster than wages and overall inflation, thus the fixation on housing can be allowed to fade some so we look at it rationally.
While some of this is anecdotal or even tongue in cheek, there are hard facts here too.
Trends which may moderate housing price growth:
OK, this doesn't meant there is suddenly more inventory in San Diego at <600K but some of the short term pressure might be taken off which would allow more deliberate decisions on the part of renters/investors about whether to buy/hold/sell.
I can see how older investor owners who don't have family to leave the homes to might want to consider selling in this market especially if they own multiple properties.
Perhaps this is just wishful thinking but in some ways, the most boring scenario is actually the most interesting for most owners. I.e. that prices stabilize and don't see a massive swoon downwards due to some unforeseen economic events/banking crisis/ funny mortgages etc.
Please chime in if you think this thought process is off base.
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