Southern California home sales crash, a warning sign to the nation

[The Nature Boy 7,659]

This is why the media is dishonest. while the number is accurate, the reason is because demand has outpaced supply.  

 

https://www.cnbc.com/2018/07/24/southern-california-home-sales-crash-a-warning-sign-to-the-nation.html

[Cyberfx1024 7,980]

5 hours ago, Nature Boy Flair said:

This is why the media is dishonest. while the number is accurate, the reason is because demand has outpaced supply.  

 

https://www.cnbc.com/2018/07/24/southern-california-home-sales-crash-a-warning-sign-to-the-nation.html

I saw this one coming awhile back and the biggest indicator was that China cut down on how much a citizen could take out of the country at any one time. So you started seeing escrow periods going on for months on end because they had to take X amount of money out to the USA. 

 

All of this is because Chinese citizens did a net outflow of $1 Trillion hard cash in a few years. So they had to cut down on it.

[Póg mo 1,749]

5 hours ago, Nature Boy Flair said:

This is why the media is dishonest. while the number is accurate, the reason is because demand has outpaced supply.  

 

https://www.cnbc.com/2018/07/24/southern-california-home-sales-crash-a-warning-sign-to-the-nation.html

From the article: "Home prices have been rising everywhere, amid a critical housing shortage."

[The Nature Boy 7,659]

21 minutes ago, Póg mo said:

From the article: "Home prices have been rising everywhere, amid a critical housing shortage."

My point exactly.  Headline is misleading 

[jg121783 3,921]

Home prices are extremely high in California so I don't think this is an indication of anything nation wide. Just the market correcting its self.

[Voice of Reason 10,298]

3 hours ago, Póg mo said:

From the article: "Home prices have been rising everywhere, amid a critical housing shortage."

Which is complete BS.  I only know the areas in which I have lived the past two years, but those areas have many brand new houses sitting empty for 1-2 years.  It might be true in certain markets, but not everywhere.

CA and NY, while they might like to think they are, are NOT indicators of what is going on in the rest of the US.

 

See also: the 2016 election.

Edited July 25, 2018 by Satisfied

[Steeleballz 7,550]

4 minutes ago, Satisfied said:

Which is complete BS.  I only know the areas in which I have lived the past two years, but those areas have many brand new houses sitting empty for 1-2 years.  It might be true in certain markets, but not everywhere.

 

  The article is specifically about southern California.

[Voice of Reason 10,298]

1 hour ago, Steeleballz said:

 

  The article is specifically about southern California.

Well, SoCal I'd NOT everywherr... 

[jg121783 3,921]

3 hours ago, Steeleballz said:

 

  The article is specifically about southern California.

Headline:

 

Southern California home sales crash, a warning sign to the nation

[Steeleballz 7,550]

30 minutes ago, jg121783 said:

Headline:

 

Southern California home sales crash, a warning sign to the nation

 

    Correct, that would mean it hasn't happened yet elsewhere, but they want you to heed what's going on in SoCal. I don't think it's misleading. At any rate, I understand what they are saying.