ksw_92
join:2001-05-13
La Verne, CA
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| reply to dogma
Re: So Cal housing bubble ready to pop?
said by dogma  :Of course, to be honest, I thought the SoCal RE market had topped out 5 years ago. I thought that it'd top about 2 years ago but I was way wrong. The house I bought in '97 for 138k and sold in '03 for 280k could list for 515k now.
I don't think that the market will crash unless we go Gestopo on the those "who do the jobs that Americans won't do" (sudden supply surge riding on the heels of the south-bound sucking sound caused by a mass exodus). It should start tapering down in the next year or so. I'm seeing listing times jump for homes > 650k but stuff less than that is still going into escrow in 2 weeks or less at this point. All the easy money seems to have been made...
Eddies in the SoCal Financial Reality Distortion Field make it tough to decide when to get back on the bandwagon.
Who's Eddie and what's he doing in that field? |
