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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (52028)	4/13/2006 2:44:54 PM
From: CalculatedRisk	Respond to of 306849

The Wells Fargo report: California Outlook contracostatimes.com

To: CalculatedRisk who wrote (52028)	4/13/2006 3:53:29 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

this is the dichotomy you see between me and this thread. Existing home sales have skidded, houses now languish on the market for longer periods, and the rate of home building has slowed, according to the report issued by Wells Fargo Bank. Real estate agents in the East Bay said the market was returning to more normal conditions from a hot pace that could not be sustained indefinitely. basically I take the bank's position, I think we have made the turn in the bay area and the outlying areas which are really quite slow now, are encroaching on the inland, desirable stuff. Willow Glen in SJ which is a nice area has a TON of availability for example. Otoh the more bullish folks here take the RE agent position, that this slowdown is a "return to the mean". I guess we will see soon enough.