Has South Lake Tahoe Housing Market Hit Bottom?
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If you have wondered when the South Lake Tahoe housing market was going to hit the bottom I thought I would share a synopsis of a recent wall street journal article I read. I found the article to have a lot of validity. Statistics have shown the last four major housing slumps were in 1975, 1980, 1982, 1991 and now again in ’08. In each of these slumps and according to statistics each time the housing starts in the U.S. have dipped below the 1 million mark it has signified the bottom of the market. This stat holds true going back 50 years. Subsequently over the same time frame the top of the market has peaked at 2.5 million housing starts. Guess what recently just happened? Yes, housing starts dropped below that magical 1 million figure indicating now is the time to bottom feed. There is a consensus on this statistical theory by many of the talking heads I watch on TV. The South Lake Tahoe Real Estate market seems to be right on with this trend as activity is starting to increase and we are seeing fewer price deductions.