Wednesday, April 23, 2014

Me too!

Traders shocked that home sales didn't slam stocks.

People should have seen this coming. California had it most construction friendly/house hunting friendly winter in a lifetime. We are in a major drought!

When home sales started coming in weak here in the West, I knew we were headed for bad news. And for the life of me - I don't know how they are going to goose the system this time. Housing prices are almost at bubble top. Some areas I think they have started to exceed bubble top.

The real estate market is starting to become pretty illiquid between those low interest rates, and people just deciding to ride things out.

When my rental came vacant I thought about putting it up for sale - but I just had the feeling that by the time I got it sale ready the market was going to drop out. Every day you have your hand on the chair waiting for the music to stop.

No comments: