Jed Clampett Was Right!!!
Filed Under categories: News You Can Use, Real Estate News
posted by Kea on June 19th, 2008
In case you don’t know who he is, check out one of the cable channels and watch some episodes of “The Beverly Hillbillies”. Ole’ Jed figured it out long ago that if you discover oil in your yard or a pile of dough under the mattress, “California is the place you want to be…”
The news on the housing market continues to paint a bleak picture and if the information is to be believed at face value, every other home on every block is in foreclosure. But, let’s take a closer look and put those numbers into perspective.
What Housing Recession?
Market’s blues aren’t flattening prices of coastal homes and mansions
San Diego Metropolitan, By Alan Nevin
We have been bombarded with bad news about real estate for the past two years. In fact, if you were to be on MarketPointe Realty Advisors’ subscriber list you would really know the housing downturn started four years ago. As usual, the past is prologue.
Yes, we certainly know that foreclosures have multiplied, that thousands upon thousands of households bought homes with misstated incomes, zero down and overpaid as well for merchandise that was priced 15 percent to 30 percent above what common sense would have told you it was really worth. But what never seems to be discussed is the upper end of the market.
Click here to read entire article
This entry was posted on Thursday, June 19th, 2008 at 3:45 pm and is filed under News You Can Use, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.
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If I didn’t live in Hawaii, I would want to be in California or Colorado.
Thanks,
Keahi