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There is no housing bubble in Southern California, no, no bubble here...

By Patrick   2013 Mar 3, 10:20am   563 views   1 comment   watch (0)   quote      

http://www.scpr.org/blogs/economy/2013/02/25/12665/no-housing-bubble-repeat-there-no-housing-bubble/

A construction worker installs a window in a new home in San Mateo, California. Housing starts need to pick up significantly if the supply and demand imbalance in Southern California is to be corrected. There is not housing bubble. But of course you could be excused for thinking that there is, if you live in Southern California. The real estate market here is distorted, with supply and demand out of whack. The Great Recession meant that we didn't build any houses for four years. The supply of "distressed" properties — foreclosures — is getting tight, because banks are working through...

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1   thomaswong.1986     2013 Mar 3, 10:53am  ↑ like   ↓ dislike (1)   quote    

from the article...

"There is not housing bubble. But of course you could be excused for thinking that there is, if you live in Southern California. The real estate market here is distorted, with supply and demand out of whack."

similar comments were made in the 70s and 80s .. up the 1990 which was the first time to be disproved as priced in ubber popular counties declined as much as 40%. fast forward to 2000 - 2010... im sure we saw equal double digit declines.

clearly the supply/demand talk has no merit and should be avoided.

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