Alan Gin Market Quotations

I think it shows that the market here is softening a little bit. San Diego was advancing more rapidly than other places and we may be topping out first.

One of the reasons we had the housing market surging ahead was because of the low cost of borrowing money. With mortgage interests rates going up there is some concern some people will be priced out of the market, which in turn will reduce demand for housing ... That leads to lower prices.

What I don't see is a collapse in pricing. To get a collapse ... there would have to be a big job loss where people are forced to put their houses on the market for distress sales.