there they go...up or down, you always earn when u are a RE Agent...please stop beliveing them and think for yourself..sometimes its just better to beleive the exact oppsoite of what a RE agent says...but you never know they maybe playing mind games
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Let's think logically about what will really happen. There will be layoffs and renters, especially those without children, will quickly scatter. Renting in San Diego is a tight market just like home sales, so this will provide some much needed inventory and potentially stabilize pricing for a year or two.
Let's talk home owners. Some get notifications in September and let's say the average person gets about five months of severance. The people with kids are going to have severance through February and are going to stick it out for their kids through May. Those will working spouses, those that made good financial choices, and those that find new local work will not move at all.
Those that have to sell will benefit the San Diego market by freeing up some inventory at the mid-upper end. San Diego needs this segment to soften because it is crushing the move-up market. We need the move-up market to be strong so every Qualcomm engineer selling their home causes 2 or more follow on transactions.
Real estate never goes down in san diego except once in every decade
Hahaha
Demand always softens after Labor Day. But right now, there aren't enough houses in some areas of S.D. County to meet demand, and sellers are getting multiple bids on houses. Find another real estate guru.
Somebody call Lawrence Yun asap! He will correct that typo. Down is always up, actually