OCLuvr
Active member
It seems that Seattle home prices have hit peak and may see some correction now. What is our take on Irvine home prices?https://www.cnbc.com/2018/07/09/the...in-the-country-may-be-headed-for-a-crash.html
OCLuvr said:Even though, one of the hottest market is seeing a soft landing?
In its quarterly report on the Washington housing market for the first three months of 2018, the center put statewide inventory at a little more than five weeks, which it called a ?slight imbalance.? The report said around 113,000 units sold in the first quarter, a 5.1 percent increase from the same period a year ago.
But Young cautioned that the market can change quickly.
?If demand were to disappear tomorrow, there?s a lot of construction going on out there,? he said. ?I?m not sure housing prices would crash or anything, but it?s one of those things that you always have to be mindful of.?
OCLuvr said:JWA?
eyephone said:Irvine is not immune to RE cycle.
Compressed-Village said:Perhaps, I am being too optimistic, i?ve poured over countless of sources of data, reading different analysis and taking cues from various so call experts and my conclusion for Irvine housing direction at best will be flat line during the next down turn. The reasons is those buyers that bought into Irvine the last 6 years are almost all well financed buyers in Irvine, coupled that with the lowest rate that locked them in for the long run makes it very highly unlikely that they willing to give up homeownership or abandon their holding in Irvine real estate. At best those that currently owned a home is also looking for bargains and the blood willl never come to fruition as it will get sucked right up with any sign of a reasonable deal. Rental market will continue to be strong in the flat line market as potential buyers will continue to wait and see approach.
Mety said:You guys especially who live in Irvine or nearby are so sure Irvine will outperform all the other cities around.
It could be true. Historical records have datas to prove.
But when something BIG happens, it happens as "the likes of which the world has never seen."
Of course, I hope that's not going to happen either...
Lallo said:I don?t think Chinese FCB will save irvine during the next downturn. From what I?m told from an agent who deals with these buyers, they are having a really tough time getting their money out of China.
Lallo said:I don?t think Chinese FCB will save irvine during the next downturn. From what I?m told from an agent who deals with these buyers, they are having a really tough time getting their money out of China.