The National Association of Realtors Expects real estate activity to pick up early next year
“Given a positive economic backdrop of lower interest rates and job creation, we expect sales activity to pick up early next year,” says David Lereah, NAR’s chief economist. Really! We need to get real here! Keep in mind, the NAR totally missed the current decline.
Mr. Lereah may be correct for some markets, but, markets that are now dropping after years of annual double digit appreciation will continue to fall. The big difference for 2007 in these markets will be a marked acceleration of the decline as the losses for investors and the over mortgaged mount. View info on downtown San Diego real estate
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2 Comments
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There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable.
Brianne
San Diego County Dentist
The extraordinarily high prices for San Diego real estate really make the investment potential very risky when the average rent doesn’t come anywhere near the carrying charges an owner has to pay.
Peter
San Francisco California Attorneys