I'm sorry, perhaps I was too quick to assume your motive. My bad.
This, from your link seems to suggest its just too early to jump to conclusions.
>>For economists who think talk of a housing bubble is hogwash, two arguments stand out: The supply of housing remains restricted and woefully inadequate to meet buyer demand in San Diego and California overall, and the economy continues to create jobs.
"We have been in a production deficit for housing for five or six years now," said Raphael Bostic, an economist with the Lusk Center for Real Estate at the University of Southern California. "Is that imbalance likely to persist, and is demand likely to stay strong? I think the answer to both those questions is yes."
Moreover, nearly every regional housing collapse has been triggered by widespread job losses. In Southern California in the early '90s, for example, defense industry cutbacks sparked a housing sell-off that depressed prices for more than five years.
Today, California is adding jobs, including 12,300 in July, the state's fourth straight month of gains. San Diego County added 7,000 jobs in July and has been one of the leading job-creating counties in the state.<< |
