2009 December | San Diego real estate market

Dec

2010 San Diego Housing Market Setback Possible

brokerforyou.com Bob Schwartz

Don’t let all the hope and change in the air for the San Diego housing market cloud your good judgment. There is a real good possibility San Diego housing will experience another setback in 2010. The San Diego (at least the lower end) market has gotten way too far ahead of reality way too fast (not the first time for that) but they are actually going to get worse than before (probably without the drama of a near-miss meltdown of the global financial markets), and people will lose wealth in the process. The government will have to step-up as the safety net of last resort, but the lack of resources and the over-abundance of political grandstanding from all players will mean that if there is any action from the government, it will be too late and too little and the economy will simply have to find its own non-artificial bottom.

San Diego for sale by owner

Dec

Housing Prices Set To Dip Again In 2010

Home prices appear to have stopped falling, but are we out of the housing woods yet? Robert Shiller, a founder of the S&P Case-Shiller home-price indexes.

San Jose California real estate

Dec

U.S. Headed For Japan Style Recovery?

On December 29, 1989, the Nikkei index finished at an all-time high of nearly 39.000 points. Twenty years later, the stock index is just a quarter of its former value, the real estate market has crashed, unemployment more than doubled, and a sentiment of insecurity has settled across Japan. Will the U.S. face a similar fate?

Santee California real estate

Dec

Case-Shiller Home Prices Mixed

The S&P/Case-Shiller Home Price index in October rose in just seven of 20 cities. In the past year, prices are down 7.3% in the 20 cities. Prices in all 20 cities were lower in October 2009 than in October 2008. The figures are not seasonally adjusted.

Only seven of the 20 metro areas showed month-over-month improvement. The turn-around in home prices seen in the spring and summer has faded, according to S&P chief economist David Blitzer, who described the latest Case-Shiller data as flat.

As of October 2009, average home prices across the U.S. are at similar levels to where they were in the autumn of 2003.

Las Vegas was the only market that has not seen any improvement in 2009. Prices have declined for 38 consecutive months. Las Vegas is just 5% above its January 2000 level.

On the plus side, San Francisco has had seven consecutive months of positive returns; San Diego has reported six; and Los Angeles and Phoenix are close behind with five.

Encinitas California homes

Dec