Is anyone shocked by some of the latest price reductions?
Check out these Sacramento price cuts :

The Chisholm
Was $434,136
Now $299,990
$134,146 or 30.9% reduction

The Tuolomne
Was $412,884
Now $319,990
$92,894 or 22.5% reduction

The Pacific Crest
Was $452,890
Now $324,990
$127,900 or 28.2% reduction

The Shasta
Was $480,828
Now $349,990
$130,838 or 27.2% reduction

If you paid full price for any of these, you might break even in 8-10 years.
Or you might not.
Imagine, putting 0% down and waking up $134,000 in the hole before commissions.

Here are two things that just do not seem to matter much anymore:

  • “They are not making land anymore”
  • “Everyone wants to live in California”

As shocked as anyone might be, this is just a down payment.
How long will it be before we hear “No one could possibly have seen this coming?”

Mike Shedlock / Mish/