New players overshadow old markets – Usual suspects in real estate cycles become less volatile
CBS MarketWatch has an interesting article on why the San Francisco real estate market (among others) will not likely suffer a significant recession due to the speculators moving on to places where land is readily available (like Las Vegas).
“Now places like Las Vegas, Phoenix, Bakersfield, Calif., and Naples, Fla., are supplanting real estate’s usual suspects. These burgeoning regions are now on today’s cutting edge in land speculation.”
“So what’s to come for the big names? For one, smaller inventories and steadier price hikes — not to mention the assumption of greater risk by the newer markets — seem to be insulating West Coast and Northeastern cities from the threat of a much-feared real-estate bubble.”
Now, other than my perpetually optimistic view of things, it’s nice to see someone else out there showing WHY I have reason to continue to see the brighter side of San Francisco’s real estate market.
“Even though Las Vegas and Bakersfield have set records for price increases in recent months, the usual suspects have been rising at a more measured pace.”
Just what Greenspan likes to say… Measured pace… Sounds like what I’ve been saying all along…
