Speaking of 2008, September marked the 10th anniversary of our last great meltdown. Lehman Brothers collapsed, bringing others to the brink, precipitating a general crash in the housing market nationwide. We got towed along for a 60%+ drop in local home values and a 50%+ drop in sales over the next 18 months. Fun times! […]
Gene Wunderlich, Sr. Staff Writer
Gene Wunderlich is the Government Affairs Director for Southwest Riverside County Association of Realtors. If you have questions on the market please contact me at GAD@srcar.org or to keep up with the latest legislative and real estate trends go to http://gadblog.srcar.org/.
- Posts: 68
- Website: http://gadblog.srcar.org/
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As I pointed out last month, I’m just not seeing it. While our market has indeed slowed from its more robust pace of the past few years, there’s simply no indicators pointing to a crash. The market is still strong, the underlying fundamentals of the economy are sound and most prognosticators are in agreement that […]
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Last month I talked about the apparent correction our housing market appears to have entered. Within days headlines from MSNBC and others were howling about the impending housing ‘CRASH’. So the question these days is ‘Are we headed for a crash, or just a correction?’ At the risk of disagreeing with MSNBC (when was the […]
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The housing market in our region appears to be in a state of flux right now across several indices. Historically June has been our highest month for single family home sales – and it may be again this year. But sales are well off last year’s pace, posting the lowest 1st half sales in the […]
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I’d also like to thank City Managers Aaron Adams (Temecula), Grant Yates (Lake Elsinore), Gary Nordquist (Wildomar), Armando Villa (Menifee) and ACM Ivan Holler (Murrieta) for making our 8th Breakfast with the City Managers a huge success again. Our members turned out in record numbers to hear about what’s happening in our marketplace with housing, […]
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As we celebrate the 50th anniversary of the Fair Housing Act, it’s interesting that ‘The American Dream (In Flames)’ was the title of a presentation to Directors of the California Association of Realtors® delivered by CAR CEO Joel Singer last week during our Legislative meetings in Sacramento. That was during a week that saw additional […]
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For some reason people frequently ask me what comes next for our overheated housing market. To this I honestly reply that I am nearly as clueless as they are. But there are some probabilities and even some strong possibilities about what could happen. Like everyone else, I rely on a cadre of prognosticators to inform […]
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January was a slow month for housing so why not blame it on something the President said or did? It’s a popular pastime these days. But, of course we knew January was going to be slow anyway. History has proven that, so it wasn’t a big surprise, but it’s still nice to have a scapegoat. […]
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So, looking back, 2017 was a pretty decent year for our local housing market. After the big fade in November, sales bumped up just enough in December to keep my forecast of 12,000 sales viable. Just barely. The computer tells me, (and computers are seldom wrong), that we finished the year with 12,017 sales while […]
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With the possible exception of Congressional Republicans, there’s no sense of urgency right now. Let’s get through this year and see what 2018 brings. Depending on what H.R.1. finally looks like, and which ‘expert’ you listen to, the housing market will either be a little better, a little worse, or about the same next year. […]
