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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (25258)11/16/2004 1:40:58 AM
From: John VosillaRead Replies (1) of 306849
 
Elroy can you expand on what fear you are seeing in SoCal. Only thing I've heard so far is inventory in MLS in many markets has increased dramatically from a very tight market in the spring.

In Florida the market is as hot and tight as ever. They've actually bid up lot prices another 20-30% since the hurricanes. Even more demand for housing due to in migration of many in the construction trades with a 6-12 month pipeline from the rebuilding effort and much of the insurance money in circulation. Hear some talk of the inevitable oversupply of high end condos at $300 sf+ that few local's can afford and the flippers might walk away from down payments upon completion but the true hit will not be evident for a couple of more years. I predict Florida gets hit last and has an even bigger downturn than California as the bursting of this bubble plays out.
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