tag:blogger.com,1999:blog-2020965297376819658.post3047152627555632945..comments2023-05-07T01:54:22.688-07:00Comments on Effective Demand: San Fernando Valley home sales report - February 2010Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2020965297376819658.post-47949192900732928612010-03-29T08:29:41.735-07:002010-03-29T08:29:41.735-07:0020% down? 3.5% is the name of the game. The hefty ...20% down? 3.5% is the name of the game. The hefty mortgage is ameliorated by 5% interest rates. 12% unemployed is 88% employed. Plus LA county is a majority renters, a very big pool of buyers in which to tap.<br /><br />There will always be buyers, sales volume is off telling you that prices are too high and the economy sucks. But there will still always be buyers. <br /><br />I'm certainly no housing bull but I can see where the demand is coming from. The problem now is more where the supply is going to come from.Effective Demandhttps://www.blogger.com/profile/02587961792541800534noreply@blogger.comtag:blogger.com,1999:blog-2020965297376819658.post-19780724310817303622010-03-29T00:29:03.575-07:002010-03-29T00:29:03.575-07:00I can understand the mix shift part...I can't ...I can understand the mix shift part...I can't understand how people are affording them. They still need 20% down and still need to end up paying rather hefty mortgages.<br /><br />Plus, if the median is going up, that indicates to me that the higher priced condos are what are being sold...again...how are people affording to buy with this utter mess of an economy plaguing us?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2020965297376819658.post-10797785656373399242010-03-29T00:26:11.833-07:002010-03-29T00:26:11.833-07:00First, prices can be falling and the median go up,...First, prices can be falling and the median go up, it all depends on the mix shift of what is being bought.<br /><br />That being said I think the condo market median going up is perfectly logical. It has more supply, people are "settling" for a condo over a house because the inventory for SFH is so low and so those buyers are buying the more expensive tier of condos. Thus the mix shift is different and the median is going up.Effective Demandhttps://www.blogger.com/profile/02587961792541800534noreply@blogger.comtag:blogger.com,1999:blog-2020965297376819658.post-42240401560437426732010-03-29T00:18:19.002-07:002010-03-29T00:18:19.002-07:00I can't believe prices of condos are going up....I can't believe prices of condos are going up....it makes no sense. Where are people getting the money to buy? That's the million dollar question.Anonymousnoreply@blogger.com