It sure looks like the Great Convergence is building for 2010. As long as rates stay under 6% and we see pricing similar to what you see in this video, it'll be cooking.
Banks are finally starting to get real with their pricing. People on the courthouse steps should be falling all over themselves. If the rates start moving up (like Jim has said), Cali RE will fall much more. That said, it's still really scary out there especially if you're an investor/flipper.
As you have said, there are many factors coming together that will cause the transaction rate to increase. The process of price discovery is likely to be messy, though, and many current homeowners will not be happy.
How can I tell when a Realtor is telling the truth? Prices keep dropping and Realtors keep e-mailing me that "now" is a great time to buy.
jvolstad 2 years ago
Banks are finally starting to get real with their pricing. People on the courthouse steps should be falling all over themselves. If the rates start moving up (like Jim has said), Cali RE will fall much more. That said, it's still really scary out there especially if you're an investor/flipper.
JP5466 2 years ago
As you have said, there are many factors coming together that will cause the transaction rate to increase. The process of price discovery is likely to be messy, though, and many current homeowners will not be happy.
maniacalmike 2 years ago
What's up with the trees in the driveway? I've never seen that in OC.
vglncom 2 years ago