People Fleeing San Diego!
Well maybe they’re not fleeing yet, but they’ve started to leave. According to an article in the Union Tribune, there was a net exodus of 43,126 people from San Diego county last year.
County demographers have forecast a long-term flattening in growth, although not a population decline. Housing analyst John Karevoll said he doubts the population loss is a long-term trend, nor does he believe it will have an impact on housing sales.
What is surprizing that John Karevoll predicts it will not affect housing sales. This is despite the fact that prices are dropping, inventory has more than doubled, time on market has increased 4 fold and interest rates are increasing. New home builders have started advertising on the radio, offering 10% worth of incentives and a new brand new Xterra or Beatle Bug. Is this guy smoking crack or is he just stupid? Or maybe he’s just trying to annoy me!
If you found this post helpful, consider donating to my coffee fund!- The Economy Smells Like Roses If you believe the government or the popular press, the economy is out of recession and everything is business as usual again. Last month there was an increase in jobs by 162,000, home sales jumped 8.2%, the Dow is now almost at 11,000 and interest rates are inching upwards in......
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- Housing Update From WSJ Todays WSJ had a decent article on housing, 'Housing Glut Gives Buyers Upper Hand'. Seems like certain parts of the country are in for a bumpy ride. Here are some excerpts.*A quarterly survey of housing conditions in 28 major metropolitan areas by The Wall Street Journal showed that the inventory......
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March 31st, 2006 at 6:04 am
Interesting article. But where are they going is the question to ask. I bailed two years ago for the reason that SD is too expensive and too crowded. I might even come back now that everyone else is leaving!
March 31st, 2006 at 7:49 pm
they are coming to florida (my state) I heard that 1000 people a day come to this state…
Why the decrease in population? What is your unemployment rate? Our is like 3.2 for the state and like 3.0 for tampa bay…
April 2nd, 2006 at 6:45 am
A recent post on Moneysmartz prominently mentions your site. Moneysmartz recently launched with a mission of identifying the best personal finance websites and blogs. Here’s a link to the post:
http://www.moneysmartz.com/weblog/archives/blogs/real_estate_investing_blogs/index.html
Best wishes on the continued success of your site and with your real estate investment portfolio.
Moneysmartz