Great article by Rich Toscano about San Diego's Bubble
Check out the latest article by Rich Toscano (Prof. Piggington):
There's a Housing Bubble -- A Fact-Filled Opinion
You can practically replace "San Diego" with "Seattle" in the article and have it be equally accurate. He busts most of the myths about why housing prices have shot up in San Diego. Curiously they are pretty much the exact same things we hear in Seattle...
There's a Housing Bubble -- A Fact-Filled Opinion
You can practically replace "San Diego" with "Seattle" in the article and have it be equally accurate. He busts most of the myths about why housing prices have shot up in San Diego. Curiously they are pretty much the exact same things we hear in Seattle...
- "The housing shortage."
- "Everybody wants to live here."
- "The strong economy."
Read the whole thing.Further theories are offered up by home price apologists. They speak of an implausibly sudden shift in demographics, a new era of endlessly looser mortgage lending, and any number of other rationalizations that all, in the end, translate to "it's different this time."