Thursday, September 28, 2006

The next several years won’t be pleasant

From the Central Valley Business Times:


Is California’s housing boom bust?

The rocket engine of the California economy for the past 16 years – the booming housing market – is broken and, if not headed for a total crash, the next several years won’t be pleasant, warns a top economist with the University of California, Los Angles.

“There is nothing in the historical record that suggests we can get quickly back to normal – after all we are going to have to get prices back in line with affordability, and that will take some considerable period of time. In the meantime, sales are sure to be way down,” Mr. Leamer says.


http://tinyurl.com/emr88

3 comments:

Rob Dawg said...

Thank God those pictureshave scrolled down belowmy screen. The housing market has only been on the upswing for 11 years.

Anonymous said...

UCLA math is fuzzy - 11 years or 16 years - when you are in the ivory towers of these fine instutions of higher learning its all the same. Bakersfield bottomed in 1997, so we only had 9 years.


Don't knock the pics. LOL. I have heard that if you buy an investment property they will take you to Hawaii for a round of golf and a nice dinner & drinks in the JET!


crispy&cole

costa rica said...

Hello I want to congratulate to you. This site is fantastic, looks like entertained and very good to me it elaborated. I invite them to that they explore a little on my site of the Web
Our real estate listing includes great opportunities on Costa Rica Central Valley’s provinces such as San Jose, our Capital, with remarkable cities as Escazu at the west, or Curridabat at the east, experiencing a great development on both commercial and residential properties, making their real estate pricing highly attractive to investors; on other hand, Alajuela city gathers places with a very special warm weather such as Grecia, La Garita and Atenas, or beautiful farms for agricultural, cattle or nature preservation purposes as those located on San Carlos or Sarapiqui. We also offer land properties in Guanacaste, which is the province, along with Puntarenas, with the most beautiful tropical beaches on the Pacific Coast such as Tamarindo, Playa Grande, El Coco, Playa Hermosa, Nosara, Samara, Herradura, Jaco, Manuel Antonio, Dominical and Golfito, where the real estate business occupies the first place as the local economic activity.
Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.costa-ricarealestate.com/