do you think we are at the bottom of the real estate meltdown?

I have been around since 1976 in real estate and i have experienced several real estate meltdowns. seems like the same things happen. the real estate market balloons out of control upwards...then ....pop....it spirals out of control downwards.
but each time it goes down it come back up past the last downward mark.
each time the cycle takes about 10 to 14 years to reach another peak .
i believe we are already past the bottom and we are starting a new cycle.
what do you think?

rick garcia
[contact information removed by Zillow moderator]

  • October 06 2012 - Perris
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Answers (3)

Profile picture for blue screen exile
Ever notice how six of the 30 Metropolitan Statistical Areas in the Nation are in California? :

San Diego
Riverside
Los Angeles
San Jose
Sacramento
San Francisco

That is 20% !

Clearly, there is a wide variation in California housing markets, just as there is across the nation.  Clearly some have fully compensated for the housing bubble conditions, and some others still have some more to "correct".

I believe Perris is in the Riverside Metropolitan Statistical Area.  So, for this specific question, that probably is the appropriate part of the graph.

It looks like the market there is to the point where it is starting to track inflation again.
  • October 10 2012
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Profile picture for Dunes ..
No...and I don't think it was just "cycle" thing or NAR yadda yadda as posted previously and I don't think Zillow/anyone at Zillow knows enough to predict anything about the market...

Thatsa my opinion
  • October 08 2012
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Profile picture for blue screen exile
There is no melt down, and never was, it is just a normal correction for NAR's lies and HUD's defective housing policies that NAR lobbied for.

And Zillow already provided their 2013 prediction for major metropolitan areas in the US:



If you really believe it is just a typical "cycle", you have been selected to be "burned" again.

Perhaps you might want to review some of the bubble economic issues discussed in the NOVA "mind over money" television presentation?
  • October 07 2012
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