With a huge amount of interest only, 100% loans set for their first rate adjustment next year, the stage is set for real trouble. Even though some lenders are ‘behind the scenes’ getting ready to ‘assist’ homeowners in trouble by extending loan terms to 40/50 year terms, the real question is….What will these no/low down homeowners do when the realize their homes value has suffered double digit depreciation? Looking for a unique investment, check out gold. No, not any gold but natural gold nuggets.
[tags] San Diego homes, San Diego real estate market, real estate, housing, housing market, San Diego real estate, real estate bubble, California real estate, San Diego home values[/tags]
I think you are 100% correct for the San Diego real estate re-sale market in 2007. Many will be in for quite a surprise, as the majority expect 2007 to mark a turnaround for San Diego real estate values.
Larry
I remember in 2005 that It seems every month the paper reported that real estate sales were down by double digits though the values seem to be holding up. You would think an intelligent person would realize sales cannot drop by such a magnitude without values following.
Steven
TJ Dentist
The ingrain notion that San Diego real estate always appreciates has now vanished, and that’s probably a good thing.
Holeh
San Francisco California Lawyers