With less appreciation, consumers will be less able to tap into home equity loans to finance their purchases, which could put a damper on the national economy.
More Quotes from Alan Gin:
Almost everywhere I go, people ask me if we're in a housing bubble here in San Diego. My answer is yes, but the bubble isn't going to burst.Alan Gin
Generally good news in terms of San Diego, we will outperform California and the rest of the nation.
Alan Gin
What I don't see is a collapse in pricing. To get a collapse ... there would have to be a big job loss where people are forced to put their houses on the market for distress sales.
Alan Gin
There might be some seasonal reasons for the construction losses, but the decline could be a sign that our overall employment growth is slowing.
Alan Gin
Things are booming a little bit in terms of job quality. In the past, I've been a little worried ... that most of the job growth has occurred in lower-paying sectors. But recently, there has been a lot of growth in professional services.
Alan Gin
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