As a real estate agent for Santa Cruz homes for sale, part of my job is keeping up with current real estate news. Most of the time, I’m largely unsurprised by the news that comes across my desk, but this little tidbit blew me away.
For two years now, we’ve seen mass foreclosures, people walking away from their underwater mortgages and warnings that there’s more to come. Foreclosure numbers reached all time highs, housing prices have reached all time lows and half the country is unemployed. It’s enough to make a homeowner with one of the Santa Cruz homes for sale have a mental breakdown.
However, in February, the news went out, flooring most in the real estate industry: severe shortage of property predicted by the middle of 2011. This may sound