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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (16388)	11/20/2004 6:58:40 AM
From: Elroy Jetson	Respond to of 116555

California builders tell me the Southern California market changed eight months ago in April 2004. Since that time would be buyers often don't show up for appointments with sales staff, are nervous, uncertain they're doing the right thing - and most important of all the credit quality of potential buyers declined markedly after April. The most qualified buyers withdrew from the New Home market at that time. Just anecdotally I know someone who was selling an existing west Los Angeles condo at that time who discovered they could not sell for the previous sales in that building. They eventually settled for $100k less, a 20% haircut. .