Tuesday, May 13, 2008

Is, or isn't, the real estate sky falling?

The national media, after convincing us that the real estate sky has been falling, is now beginning to question that assumption. Link to LaLand's story here. Apparently, not that many people are walking away from their homes unless they're in serious financial trouble. I, too, have bought into the Chicken-Little-End-Of-Life-As-We-Know-It, only to find that it doesn't accurately represent the areas where I work. Yes, foreclosures are rampant in Palmdale and the outlying areas. But as a percentage of homes here in SFV, it's still quite a small number. Hmm.

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