The slowdown in November will give builders an opportunity to clear out their standing inventory. We anticipate that 2005 will conclude with figures matching 2004, which was a very good year for the industry.
California cannot continue to sustain skyrocketing housing prices that have ballooned over the last few years. The industry has been moving at a torrid pace to keep up with demand, but we expect prices will finally level off to a manageable level.
One out of four new homes built in Riverside (County) goes to someone working in San Diego County.
It really has to do mostly with conversions and with projects (in) downtown (San Diego). The conversions and the projects downtown that were recently completed have large standing inventories. As a result, they are giving concessions.
It's a great time to buy a condo.
It's all in the affordable sectors. We don't see any major gains taking place in that area because the barriers to entry are so great throughout the state.
Rita won't have anywhere near the impact of Katrina.
I just think it's spring. Basically, there are people who have property and want to start (work) knowing they have a full year of good weather.
The reality is that there should not be an impact. However, many of the material suppliers and subcontractors are using that as an excuse for raising prices.
The reality is, Bakersfield is just at the beginning of its growth pattern.
