Saturday, September 30, 2006

A Quote From La-La Land

“So I guess it’s official: The real estate market is tanking... If you’re a renter, you now have permission to be as self-satisfied as the homeowners who once taunted you with their dizzying appreciation rates. As for us owners, we can just cover our ears and sing ‘Correction! Correction! I can’t hear you!’ until things start looking up again. Call it a correction or call it a crash. Either way, the party’s over.”

That's what they're saying in the LA area. Well, it's an "armpit", right? At least it can't happen here. I'm so relieved.

That recent drop in the above graph is due to the rapid increase in inventory following Labor Day. I'm glad to see the trend continuing on schedule (it takes sellers some time before they can admit to needing a price reduction even if it is superficial).


Anonymous Anonymous said...

So Marin inventory is up 70% above normal (from year ago) and holding and people still claim it will only be a soft landing in Marin? That there is no speculation in Marin? Ahahaha!

Oct 6, 2006, 1:22:00 PM  

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