Did anyone else see the Saturday article in the LA Times which detailed the shortage of new home inventory in so cal? Showed a graph of new home inventory by quarter from 1990 to today. In 1990 there were about 4,000 new unsold homes available. Today about 100.
there ain't no shortages...... all the shortages are based on old data projected forward. The economy is worse than most people would like to think it is.
An article in today's (8/12/02) Wall Street Journal regarding the London housing market is filled with details that are astonishing and seem more suited to the National Enquirer. The good news is, the Invisible Hand is at work. To wit: "Gamble" on a plunge? Aren't the buyers gambling, too?
"all the shortages are based on old data projected forward" I live here and I can attest to the fact that there are shortages not on old data but today. Walk into any model development and all you will see are the red sold signs with waiting lists for future phases.
I am a homeowner in S.D. (carlsbad) and I would like to buy a put on my house any sellers? How lucky would it be to sell the top, wait for a crash and buy up oceanview homes in LaJolla. If this were to happen I would kick myself for not selling out now for many reasons. Of course I could be wrong that is why I want the put.
Interesting stuff: http://cbs.marketwatch.com/news/story.asp?guid={DED6C6B6-1B5A-4731-BBC2-F3FE6211E353}&siteid=mktw