July 12, 2024

“Given a positive economic backdrop of lower interest rates and job creation, we expect sales activity to pick up early next year,” says David Lereah, NAR’s chief economist.  Really! We need to get real here! Keep in mind, the NAR totally missed the current decline. 

Mr. Lereah may be correct for some markets, but, markets that are now dropping after years of annual double digit appreciation will continue to fall. The big difference for 2007 in these markets will be a marked acceleration of the decline as the losses for investors and the over mortgaged mount.  View info on downtown San Diego real estate

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