San Diego Home Prices – Are We At A Bottom?
Home prices should come back to 2001 level, then we can say that the San Diego real estate market has finished it's correction.
For now, I think the San Diego real estate market is in for a very slow recovery due to unemployment that looks like it may skyrocket. This recession is just now starting. This will further accelerate pressure on the housing sector but also later on, push interest rates higher in order for banks to recoup losses. No one has even started talking about the other wave of credit mess, Credit Card debt and the huge amount of adjustable loans issued in 2004-2005 that are set for their first adjustment in 2009. san diego real estate news
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San Diego California home prices have a great deal further to fall as unemployment starts to affect prices…
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Obviously, the big homebuilders have a different perspective, but the bottom line is the same. Prices will continue to decline until unemployment stops growing.
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It’s probably not a plateau .. but rather just timed to the month in which the original sale occurred. Fewer sales around Christmas holidays, more as the school year ends and families made the move into a different home.
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