John Karevoll
John Karevoll
county decline diego furthest happen prices question san uncharted wondering
San Diego is the county that is kind of the furthest off into this uncharted statistical territory, so everybody's wondering what is going to happen locally. The big question there is will prices decline significantly or will they flatten out.
county diego easily san
San Diego has easily been the county with the most (conversion) activity.
buffer equity people prices year
But when prices don't go up as fast, you don't have that built-up equity like you did before. People won't have that buffer the way they did a year or two ago.
close eight market memories normal sales seven short
Only if we have very short memories can we say there's a downturn in sales, or at least that sales are significantly low. This is actually as close to a normal market that we've had in seven to eight years.
awful everybody sky tanks telling
There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.
doubling four last prices
We've had a doubling of prices in the last four years.
building equity people tap troubled
When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.
active category homes rate rise
It's not that it's a particularly active market. It's just that more homes are in that category because of that rise in the rate of appreciation.
broader closer cycle level markets plays smash wall watching ways whether
It's part of a broader trend. Nationwide there are markets that have a ways to go, especially in the Midwest. But we're much closer to the end of the cycle than the peak. Now we're watching how it plays out -- whether it's going to smash into a wall or just level off for a while.
fast half year
It's still going up, not as fast as it was a half year or a year ago.
behind boom cycle gains question time
The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.
clearly expensive fast homes market mix selling
It's clearly a market mix issue. Expensive homes are not selling as fast as inexpensive homes.
four hit increase lowest prices rate record
The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.
appreciation definitely entry happening knew later less markets middle strong
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.