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Strategies & Market Trends : The New Economy and its Winners
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To: Lizzie Tudor who wrote (20781)5/12/2004 1:24:11 PM
From: Bill Harmond  Read Replies (1) of 57684
 
I'm with you on the affordability index; it's lower than 1989. But there's still a shortage here in LA. We need sellers for the market to find equalibrium.

Nobody is moving it seems. There have been two listings in my neighborhood in a year, and I bet an easy 10% of the homes here are currently undergoing some sort of renovation/expansion. It's cheaper to expand than transact.
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