DataQuick, based in La Jolla, CA, reported today that sales fell 39 percent from a year earlier in Los Angeles, Orange, San Diego, Riverside, San Bernardino and Ventura counties. There were 10,777 homes sold in February in those six counties. Southern California's home sales volume has hit new lows every month since September.
For San Diego real estate, DataQuick reported 1,954 properties sold in February 2008. This was off by 31.7% from February 2007. The San Diego median home value for February was $515,00. This was down 13.5% from a year ago.
Keep in mind, the San Diego real estate bubble market peak was set in the summer of 2005. So, I would feel very confident to say that with minor exceptions, the majority of San Diego homes have dropped over 20% in value since the top in 2005. Has San Diego real estate hit bottom???
San Diego California Realtors
Mark my words, either Obama or Clinton will win – and the legal changes they bring will force a more equitable distribution of wealth AND risk. First, rebuild the social safety net, shredded by decades of rightwing mismanagement. Second, better govt regulation will bring more centralized control back over the markets. As time goes on, the federal govt will reassert its rightful authority over more sectors of the economy, and we will march together into a brighter future for our children!
Stan
San Diego California Clinical Research
The good news is, once the dust settles, the new and improved mortgage payments will be a piece of cake!
Melissa
San Diego County Attorneys
Stagflation is the problem going forward, not recession. If our gdp is 70% consumer spending, there is no value added to the society. The big muckimucks of wallstreet should consider how to invest in areas that increases value and not just consumer spending!! That is what will take out of stagflation
Meredith
San Diego California Lasik