Last week, our team and myself attended the annual National Real Estate Conference downtown where we were fortunate enough to be audience to a multitude of panels comprised of the best-of-the-best in all areas of real estate - many market issues were discussed but the topic brought up by all panelists from builder reps, to city councilmen, to economics professors surrounded this mounting nationwide concern of a potential market bubble.
Let's set the record straight here... experts agree - the issue is not when the bubble will happen, but rather when will this inventory crisis end ?!
Let's compare this year's numbers to when we did experience the market crash in 2007 - the calculated scales are currently tilted slightly in favor of buying vs. renting, versus the extreme opposite where 2007 pointed severely in favor of renting as the more affordable option (when considering renting costs vs. the current conventional loan offerings). Also in 2007, we were building in excess with 225,000 homes per year (in California), however despite today's population having grown by 4 million, we are building under 80,000 homes per year. What shocks me here is how we are growing by nearly 400,000 people each year, yet only building 80,000 new homes..?! Something doesn't add up here!
Having been raised in San Diego, Joseph has a great wealth of knowledge of each community San Diego has to offer. Combined with being extremely hard working, having a great attention to detail, and having the ability to listen Josephs clients receive an elite level of service.
Fall is Here! Weather is Finally Cooling Down ...When Will
"We used Joseph Arendsen to help us locate a home. That turned out to be a great decision. Mr. Arendsen helped us to locate and buy the home, when the competition was stiff, and negotiated a good sales price. Throughout the process he was a strong advocate and we received many concessions from the seller that we did not expect. Mr. Arendsen was very knowledgeble and was able to recommend a good broker, inspectors, termite inspection, etc. We would not hesitate to use him again."