Roger Showley of the San Diego U-T covered USD’s annual real estate outlook conference last week, with the panel in general agreement that we’re nearing the bottom of the market.
I generally trust what Alan Gin has to say. I’ve been reading his comments for the last two and a half years, and he doesn’t gloss things over like a lot of people I read. I do agree with him that the recovery will be an elongated “U” shape (eventually). We still have a lot of bad assets that need to be shaken out of the current system. The elongated “U” looks a heck of a lot better than falling off of a cliff did last year.
With that being said, I think I most agree with Alan Brinkman’s comments, the market will hold at the low end, but the high end above $700k will continue to fall.