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B.A.C.A.H.
2013 Sep 2, 3:17am
B.A.C.A.H.
2013 Sep 2, 3:17am
West Coast? No kidding. Just the Coast.
It means, not the Sacramento area. Not Stockton. Not Fresno. Not The Inland Empire.
Though I am a Californian, it think it probably means that further up along the coast, it means not in analogous place an hr's drive inland from places like Portland, Seattle, Vancouver.
Just the Coast.
WHY? Wealthy foreigners and immigrants don't covet to own a SFH except in Fortress Communities in the crowded urban coastal cities.
It seems to me that this new "min-bubble" we are in has been a West Coast phenomonea.
http://money.cnn.com/2013/08/27/news/economy/home-prices/index.html
https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/35529_cshomeprice-release-0827.pdf?force_download=true
So the questions are
1) WHY?
and
2) When it does finally deflate and/or pip - will the impact be nationwide - or only regional?
Not having been out to the west coast in a long time - I can't speak to the way things are - but here on the east coast things are plodding along - it never felt like a recovery (unless you work on Wall St) things are starting to slow again - and I think that people are generally more cautious given how baldy some were burned in this most recent downturn - similar to the way that Texas didn't get nearly as bubbly 2000 to 2009 based on the major hit they took in the 1990's bubble.
For as short as our memories are - we do learn from history on occasion.
(Just my two cents).