Thread regarding Qualcomm Inc. layoffs

Real estate doom and gloomers..You kept saying after the QC layoff announcement, inventory is up significantly in the past few week....Uh, no...

Del Mar, inventory down: />

Carmel Valley, inventory down: /

Encinitas, inventory down : /

South Carlsbad, inventory down: /

West Carlsbad, inventory unchanged: />

North Carlsbad, inventory unchanged: />

East Carlsbad, inventory unchanged: />

Solana Beach, inventory unchanged: />

La Jolla, inventory down: /

Looks like people at the upper echelon of net worth/income aren't fireselling after the QC layoff announcement. Maybe the world in SD doesn't revolve completely around QC? But hey, keep waiting for that big correction renters....

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Some of these places are sold before they are even advertised on the MLS. If realtors "double-end" the deal, they may accept a lower commission. But don't bet on it.

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Anonymous130131, dummies were the people running around with their heads cut off saying the sky is falling and inventory has already gone up 2 weeks ago right when Q made their earnings announcement. They were wrong then. They're going to be wrong now. Besides, layoffs also drain the folks that are trying to save to buy a house. So I guess when they do find a job, they'll still need to rent. Perfect! More renters!

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You won't see the effect until people get laid off, dummy. When they can't find work in SD, they will move. This takes 6 months.

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Anonymous130098, Ah, so finally we agree. Prices aren't going to crater right away (contrary to what you and some of the others were saying). So what we might get is a very slow flattening of price increase followed by maybe a really slow, long, drawn out, slow decline in real estate prices over say 10-15 years....Ok, that might happen...Ejoy renting for another 10-15 years :)

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Real estate (not like stocks) tends to move slowly; so the effect of layoffs may not be seen right away.

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Anonymous130062,

You make no sense whatsoever. Clearly, you have no fvcking clue on how home buying works, and you probably never have bought a house. A house only is "available" when it's not in a contigent, pending, or closed status. So the number of active listings went down in the higher end areas.

There is one thing for sure. In not so high-end areas, inventory did trickle up, like in Chula Vista and the lesser parts of Oceanside.

But that's to be expected. When economic situation changes, the ones that will be hit first and the ones that will be hit the hardest are the ones that are most financially weak. Just like in 2008.

People like you keep pulling shit out of your ass without any data to back it up. Until we see weaker financial hands get creamed, stronger financial hands aren't nearly going to feel the pinch, just like in 2008. But the irony is when weaker financial hands do get creamed, chances are so will you, considering you can't afford to own.

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It takes a month to close. The real effect will start in November after the mid September notifications.

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I own real estate in SD and I hope to be wrong but I cannot imagine how real estate is not going to be affected; it's supply and demand rule; especially with strict financing banks regulations: how many cash buyers can possibly exist? Just my 2 cents.

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