"People who cashed out three or four years ago intending to buy back in at a lower price are still waiting," says James Hamilton, president of the California Association of Realtors and manager of real-estate brokerage Re/Max Execs in Redondo Beach, California. He adds that California housing prices are expected to increase 10 percent in 2006. "If you arenÂt moving somewhere where the cost of living is lower, big mistake."James Hamilton is dreaming if he thinks home price appreciation will be 10% in 2006. I am willing to bet him 5 to 1 that home price appreciation in California will be less then 5% in 2006.
The California Association of Realtors ( CAR) has this tremendous powerpoint presentation.
Below are my favorite slides:
It's bubblicious. :-)
Is that froth I see emanating from the green bubble?