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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (27710)	3/3/2005 3:50:53 PM
From: Elroy Jetson	Read Replies (1) of 110194

Compared with pre-2000, when there was very little inventory available after October, the market now has an unusually high inventory in November through February. David Lereah the "economist" for the Nat'l Assoc of Realtors recently spun this glut of inventory as a positive saying, "December home sales increased dramatically over the prior December." Well they would wouldn't they, when you have a large inventory in December for the first time. Regarding downtown San Diego condos in particular, Ramsey Su gets right to the heart of the matter in his comments on condos in downtown San Diego. Pardee Homes built the first condo project in San Diego years ago inexplicably called Park Row - there was no park and it was located in the middle of, what was then, skid row. The area has increasingly become a convention center with a surfeit of hotel rooms. Old run-down buildings continue to be converted into condo or torn down into condos as fast or faster than they sell. Ten years from now it may be a stable market with the renewal completed. .

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