Housing Recovery 2008 - Is it really coming?
Filed Under categories: Buying, News You Can Use, Real Estate News, Selling
posted by Raye on January 17th, 2008
There’s an old joke that if you ask 5 real estate analysts to predict the future you will get 7 different answers. Okay, maybe that isn’t exactly how it goes, but you get the idea. Now the California Building Industry Association has come out with a pretty positive projection for 2008 based upon building permits, lower interest rates and pent up demand.
Alan Nevin, chief economist for the association believes we could start seeing a turn around in San Diego as early as this spring. His reasoning is interesting and encouraging and if the start of this year is any indication, he will be correct. Buyers are coming out and realizing they can’t time the bottom and we may already be there. San Diego probably led the way down and will also lead the way up. What a relief to finally hear some good news. It’s cautiously optimistic, but that’s better than the news of the past 2 years.
Excerpt from Alan Nevin’s article:
Housing’s New Reality, Even As Economy Improves
Economic recovery in California in 2008
will only bring stabilization to the home market
This is not the easiest year in San Diego history to forecast. The major problem lies in the myriad of conflicting statistics and indexes at the international, national, state and local levels. After reviewing pages of data and literally dozens of forecasts by learned academics and scholars, I am going out on a limb and taking a very contrarian view of 2008. Most of the forecasts I have reviewed anticipate no start of an economic recovery until late 2008 or early 2009, especially in California. My crystal ball, though cloudy and slightly cracked, has a slightly more optimistic scenario.Click here to read the entire article
This entry was posted on Thursday, January 17th, 2008 at 9:42 am and is filed under Buying, News You Can Use, Real Estate News, Selling. You can follow any responses to this entry through the RSS 2.0 feed.
Leave a Reply
You must be logged in to post a comment.