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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.

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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?

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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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