San Diego Real Estate … Time to Buy?
As San Diego home values plummet. The industry and almost all media outlets are proclaiming “It’s the time to buy! ” But, keep in mind this is almost an exact reply of the ‘news’ that was being proclaimed last year, and two years ago, and three years ago etc. Why, even in 2006 after the downturn was well under way, the ‘Indusrty’ line was “It’s a normal pull-back, creating a great buying oppurnity.”
Lot’s of flippers and investors were buying all through 2007. They are in deep trouble right now. Look at the graph below which we originally published on 9-26-09.
San Diego home prices
It may be that San Diego home values need another 10%-20% drop before a real bottom is reached. In a depression, home value of homes could fall 50% from where they are today. At least, that’s what happened in the great depression.
It is very tempting to rush out and buy investment properties. But it seems it’s still too early for that.
Chula Vista real estate
Comments are closed.
I’ve seen so many signs on the sides of roads advertising for these houses that need to be sold, and reminds me of the time when the houses weren’t such a thing to fuss about. Now everyone’s fussing, I’m fussing because the value of my home is so low it makes we wonder why I bought a home!
San Diego auto accident lawyer
It hurts to see flippers prospective money making projects turn into liabilities. I would have to know that the market for the object that I put my money into will be able to sell. But who ever knows what the market will look like?
South West CA personal injury lawyers