Quote:
Originally posted by minifly
This is a good topic,
I have been searching for a home in southern california for a while now and it seems to keep going up with no end in sight, right now a condo with 1 bedroom, 1 bathroom is going for $340k in a half decent area.
I'my missing something?, I just can not understand that when people are getting laid off everywhere, more and more homes are being built and sold even before they're finish, the question is if you hold on now and wait, will I be kicking myself in the ass when this condo's go for $500k in 2 years...
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Good examples you made there. It seems that when there's corporate news of further lay offs, it seems that housing values even go up some more. I am not saying one causes the other, its just an absurd juxtaposition of trends. One of the main sources of this capital that pushes up home sales is REFINANCING... once interest rates go up, this source of $ may slow to a trickle. However, supply may still be tight.
As for the 1 BR condo example, you just described Marina Del Rey and Santa Monica [north of Wilshire].... very very $$$.