Slogging through articles touting “soft” landings and “the market fundamentals are still there.” – can be a little wearing. (I may not provide links to that stuff, but I do read it.) Every now and then though, I find a comment that’s so, so… You be the judge.
In yesterday’s San Jose Mercury News, they were discussing the YOY price decline in San Diego. It’s a good article for the most part- the link is in the sidebar. Then there is the investment advice offered by Raphael Bostic:
“One factor that has slowed the market was the exodus of speculators, said Raphael Bostic, a professor at the Lusk Center for Real Estate at the University of Southern California.”
“For investors … This is almost (emphasis mine) a sign that maybe you should get out of the market, Bostic said.”
Almost? Maybe some insightful comment went where the  ”…” was in the quote- I hope so. Otherwise, at least I’m grateful for a LOL moment during my day.
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Here’s another Groucho Marx line from “The Cocoanuts” (1929):
“Why, it’s the most exclusive residential district in Florida. *Nobody* lives there.”
What goes around comes around?
The investors are, for all intents and purposes, 100% gone from the market and that is good and healthy. Let the market be set by those looking to purchase a home to live in and enjoy.