Lizzie, RE: "In the last RE bust, the truth is that for the kind of houses I was looking at, prices really did fall 40%."
That's because they were above the median.
It must be harder for agents to sell homes nowadays - am getting cold calls at work from RE agents (even though I'm not interested in moving.) One agent said the top (for the Bay Area) was in April. Like you, I'm seeing priced reductions too.
Btw, the large midwest cities have more homes for sale per block than during the horrible auto downturn of the late 70s. Can you believe it? It's even this way in the small towns too. All over. Rich areas, poor areas, wherever you go there are many, many homes up for sale.
It sends the chill down your spine to see a home or two (or three) for sale on EVERY block - it's spooky.
On a different note, remember my neighbor that was unemployed forever? He's suffered, that is for sure. Well, he finally got an interview. He was dressed up in a suit, smiling and looking very confident as if he's been a VP over this entire downturn. Anyway, you already know the job market has turned around - is there anyone unemployed at this point in hightech?
Regards,
Amy J |
