What Will the First Anniversary of the Credit Crunch Mean to Sacramento?
August 4th, 2008 Categories: Real Estate News, Real Estate Trends, Sacramento Home Buyers, Sacramento Real Estate
In some ways, I can’t believe it’s already been a year… But in other ways it seems like this market is just the ‘new normal’, and its been like this forever…
Ben bernenke said just over a year ago that “Troubles in the subprime sector seem unlikely to seriously spill over to the broader economy or the financial system”.
Wonder what he has to say about that now; with the Dow Jones down almost 15%, economic growth down more than 50% and eight major U.S. banks along with thousands of employees now gone.
Michael Burry,head of Silicon Valleys Scion Capital’s says “I doubt we’re even a third of the way through it,”see full story.
Add the financial woes of the California State Budget , four dollar a gallon gas… the future seems a little scary…
I’ve done some numbers crunching and it seems that the Sacramento area housing inventory of homes for sale over the $350,000 mark is now growing. Demand for the lower prices up to around $350,000 is still running neck and neck with supply.
