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Strategist
2015 Nov 27, 8:25am
Fed has run out of options to inflate prices.
Rising sea level means underwater homes.
The insiders know the pricey housing bubble will crash.
You will all be dead wrong.
Strategist
2015 Nov 27, 8:37am
You will all be dead wrong.
So, why don't you answer the question in the OP and tell us why?
Million dollar + homes always take longer to sell. The median price in Carmel is $1.6 million.
And do you know how cold it is in California? I had to wear a jacket yesterday.
http://www.movoto.com/carmel-ca/market-trends/#city=&time=6M&metric=Inventory&type=0
Ceffer
2015 Nov 27, 11:17am
I thought all of these resort destinations had an active wealthy rube market for people who think that they will be using second (third, fourth) homes, or just like bragging rights. Like Maui and Truckee, most of the homes are empty most of the year or always. The owners eventually get tired of hanging on to them for their never visits, and they go up for sale to the next star dazzled rube.
Had a neighbor with a boyfriend whose family have a Carmel home. He lives in Tahoe, and virtually nobody in the family ever goes to the Carmel place.
Knew another guy who bought a house in Truckee to lure the family for get togethers during holidays, Thanksgiving, and Christmas for skiing etc. He kept it for five years, wound up going about once a year. His family members just weren't interested, so he sold it at a mild loss.
Strategist
2015 Nov 27, 2:27pm
Million dollar + homes always take longer to sell. The median price in Carmel is $1.6 million.
And do you know how cold it is in California? I had to wear a jacket yesterday.But if QE is on the wane, or doesn't work right anymore, it could be that there is fear in the market, even for high end homes.
QE is not necessary for real estate prices to go up.
The Chinese stock market continues to crash.
It's up 15% to 20% in the last 2 months. That is not a crash.
The US stock market is range bound. Where are the prophets to plunge into these houses going to come from?
A higher stock market is not necessary for higher real estate prices.
Oil is not rising, either.
More money to spend on housing.
Drove through Carmel by the Sea, and 17-Mile drive over Thanksgiving...
Saw many many many ( too many to count) houses for sale.
Anybody know what's happening with in Carmel?