Mary had a little lamb a la Tchaikovsky
Garrett Harris 10:11 p.m., May 23
Institutions not propelling SD home sales
But big buyers pushing L.A., Vegas, Phoenix, Sacramento sales
Here's good news for the San Diego economy. For the year ended December of 2012, large institutional buyers accounted for only 9% of county home sales, according to Radar Logic Research. By contrast Phoenix (19%), Las Vegas (19%), Sacramento (14%) and Los Angeles (17%) had heavy institutional buying during the period. San Jose was 5% and San Francisco 8%. These data suggest that housing demand for San Diego, San Jose, and San Francisco is being driven by improvements in the local economy, not by pools of speculative capital.
Comments
Twister March 16, 2013 @ 1:43 p.m.
Yes, good news relatively speaking, but should any place where people live be owned or controlled by what amounts to present-day corporate non-productive monarchies?
Don Bauder March 16, 2013 @ 6:58 p.m.
Twister: Rising home prices CAN be good news -- for sellers. They are not good news for buyers. Generally, they are good news for the economy, although not in 2002-2005 when their stark acceleration portended the calamity of 2007-early 2009. Best, Don Bauder
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