mikeo56: In my neighborhood in Portland houses are still selling quickly if priced right. With the recent shift of Intel and other tech companies, sending jobs here from California, the market still seems to be going strong.
When I lived in San Francisco in the early 90's, the housing market tanked, but never went low enough for a profitable flip after you factored in Brokers commissions. I held the property for 9 years and did ok.
My wild guess is that if California prices drop substantially, it would be a long time coming back. Not sure that will happen.
Glad to be in Oregon, less $$$, less traffic, friendlier people. Not as stressed out.
Signatures are so yesterday!
