Who Is Karl E. Case?

by on May 15, 2008

What Did He Say Or Do That Has People Talking?

With over fifty years of experience, Professor Karl E. Case, has got the whole Wall street journal vigorously contemplating the housing market of San Diego. Professor Karl E. Case studied the housing market closer than anyone else in this field and has come up with a chart showing the ups and downs of the real estate market over the past fifty years.

According to the chart created by the professor, housing market hit a period of recession in 1975, 1980, 1982, and 1991. In these recession periods, the real estate market of San Diego sank to the one million mark but the interesting thing is that there was a phenomenal recovery each and every time. People are considering that history will repeat itself but there are also skeptics and they differ in opinions.

The most noticeable fact on Professor Case’s chart is that, this year, the market has already fallen to the one million mark and this is causing journalists going haywire about predicting the future of the real estate market of San Diego County. Some are predicting the ever so popular rise in the market from the one millionth mark and some are predicting a great market for property buyers.

The BIG Question

So the big question arises now is that, should people start looking for property to buy? Because eventually if this particular recession does not seem to be picking up, then there has got to be big bargains and low mortgage rate. Buyers will obviously find this particular situation favorable for newly bought property. And inventory seems to be ample and whenever there is a surplus there is always a killer bargain.

Another factor to consider would be the kind of property that will be in inventory over this period. If the market demand is for condos and only single family homes are available then it is going to be a problem. But according to recent market news, buyers are slowly gaining confidence over the market and also are actually investing in real estate. But historically speaking, if the market does rise up again, than the buyers will have to reconsider their plans of being a proud owner of a property at San Diego. The political situations are apparently responsible for this recession and experts say that the housing rates would improve once the presidential elections are over in January 2009. So people might wait till the very end of this year to commit to anything at all.

The initial price of $285 per square foot is more in the smaller sized lot land value and not the construction. For economic reasons prices will fall another 10% and the replacement cost would not change that much. But as an investment for later sales, this is the perfect time to get as much inventory under ones belt as possible. If the market ever picks up, which the forecast says is end of this year, then there is every possibility that the rates will increase over time and the county will see an end to this recession of 2008.

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