Alan Gin People Quotations

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.

People are now spending this money on gas when they could have been spending it on going out to movies or going out to eat or buying clothes.

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.

They took a sharper run up in prices, so it makes sense that there's a decrease there. Some people have been priced out of the housing market, but others are waiting.

Almost everywhere I go, people ask me if we're in a housing bubble here in San Diego. My answer is yes, but the bubble isn't going to burst.