Housing Recovery – You May Have to Wait Until 2012
San Diego housing
As any of my blog readers already know, I’ve not been on board with the San Diego housing “bottom in 2009″ crowd. The Anderson forecast aside, a quick read of my last few post, shows many other prominent forecasters agree with me. As our seasonal up-tick in real estate activity draws to a close in another few months, it looks probable that the winter will bring another chill to the San Diego real estate market.
Below are a couple of other experts’ comments on the current housing market.
David Rosenberg, chief economist at Toronto-based asset management firm Gluskin Sheff & Associates said an interview: “Baby boomers are still in the discovery process on over-sized real estate being more of a ball and chain than a viable retirement investment asset. The high end of the market will be in a bear phase.” Standard & Poor’s Chief Economist David Wyss speaking about a housing recovery said: “We expect prices to drop for another year and then stabilize before starting to rise with incomes.”