Real Estate Crash
I found this video does an excellent job of explaining what fundamental factors are going to come into play during the new 2021 real estate market crash. For those of you have not been following my blog, my first post where I called the real estate market top was June 15, 2021 (https://brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) . On June 17 I had a follow-up post ( https://brokerforyou.com/brokerforyou/real-estate-market-bust/ ) where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts!
Lot’s of commentators like to bring up sub-prime (ARM loans in particular), as the leading culprit for setting off the last value crash, and how this time it’s different. However sub-prime lending does not fully explain decline disparity between cities.
Real Estate Crash
Remember that sub-prime loans were more or less spread evenly throughout the country. What we did see were increasing waves of homeowners who simply stopped making payments once they realized their home was worth less than what they owed (aka, underwater). Many were simply ‘banking’ a years worth of payments during the redemption/foreclosure process and took the credit score hit. 3 years later they were FHA eligible to buy another home. This bail-out mind-set will likely be far more prevalent in communities where lots of in-bound migration has recently occurred, a place where deep friend/family roots are absent. The pull one feels from ‘back home’ is always there; I’d suspect there will be very low tolerance for sticking it out long term in an underwater home situation, in a unfamiliar zip code. Add to this that inbound migration and market froth are closely correlated.
San Diego Real Estate Website for sale
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Sure as a real estate professional in San Diego California, you most probably have a website. But take a look at it take a look at the traffic you’re generating from that website. From my own analysis the majority of San Diego real estate websites just generate a couple of hundred unique views per month. To even have a chance of gaining one new client you need tens of thousands of unique views.
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