UCLA's Anderson Real Estate Report Is Out Today

The much anticipated UCLA Anderson Forecast is out this morning. The article at RISMedia here says the CA market is "overheated and due for a correction." The article goes on to say that there is no way that the state's housing economy can continue at its previous pace.

Slowing is Starting

"San Diego County, for example, the median price of a home reached $488,000 in May, up 7.5 percent from May of last year. That's the smallest year-over-year gain, in percentages, in five years." I think this cooling trend will continue.

I was having lunch with a local stockbroker who said something interesting, "if you are constantly talking about a housing bubble than the bubble will never happen." He is right. What he is saying is that the market is anticipating this cooling period and so the bubble will never happen. Interesting thought on his part.