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| *Travel Tips>>>San Diego Travel Tips |
Why is San Diego real estate going down in value? |
Travel Info Why is San Diego real estate going down in value? Travel Tips While I'm hardly a Bush fan, he had little if anything to do with the RE market plunge, in SD or elsewhere. Housing markets go in cycles. It was overheated nationwide,and especially on both coasts,for around 4, 5 years. So a correction was in order. There was an article recently in the LA Times that home sellers in San Diego and SoCal gnerally still are pricing their properties as if it's 2004. And then wondering why they don't sell. The big danger is that if interest rates rise (and with inflation stalking the ecomony that is probably inevitable) a lot of folks who got sucked into ARMs are going to see their monthly payments balloon, foreclosures will significantly increase, and the bottom will truly fall out - much worse than now. Good deals for buyers may lie just over the bend. Others I think real estate everywhere is going down right now. It will come back. cause of the drought its because of the over appreciation that happened in the last 5 years. it is just making itself right then will continue to climb. and for you at the bottom... GW has nothing to do with the fact that californians paid way too much for homes in the last 5 years. that makes no sense. the market tanked for a 100 reasons. least of which is GW, first on the list is that people signed mortgages they could not afford. lets stop playing the blame game. we all need to look at ourselves first too many houses, not enough buyers because of high interest rates and even higher costs for the houses! Many foreclosures in my area near DC I think we should ask this to George W . He has done such a great job of screwing up our country . |
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