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Aug 25th, 2006, 02:15 PM
One more thing about the current housing market...
There will be a lot of new buyers like Kahl who couldn't buy before, and will decide now is a good time to buy. They'll be stuck at the lower end of the market, but they'll help take out some of the glut of inventory....and likely stimulate the economy again. Like I said, in the old days a bad market would mean you'd take a year to sell your house, where today it means you have to wait 3 months. Same goes for the reductions. You won't see more then $50,000 knocked off a price, and that's going to be a fire sale.
In San Francisco a small home starts in the sixes. The suburbs sell for a premium, unless they're ghetto.
Can you tell I was raised in a Real Estate office?
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