[lscore720]

New report released today "Southern California home sales crash, a warning sign to the nation": https://www.cnbc.com/2018/07/24/southern-california-home-sal...

Interestingly enough, the higher priced homes are the only ones somewhat holding up. "Sales below $500,000 dropped 21 percent on a year-over-year basis, while deals of $500,000 or more fell about 3 percent, marking the first annual decline for that price category in nearly two years,” said LePage. “Home sales of $1 million or more last month rose just a tad – less than 1 percent – from a year earlier following annual gains of between 5 percent and 21 percent over the prior year.”

[joshuaheard]

The article cited higher interest rates. I've talked to other people who say we are in the tenth year of an average 8 year real estate cycle. I think the market is peaking now and will downturn in the near future. But, I think it will be short and shallow consistent with national economic growth.

[joshuaheard]

Chinese investors realize the market has topped out.

https://www.wsj.com/articles/chinese-real-estate-investors-r...