“Oil needs to get under $100/barrel. If this does not happen, do not expect housing to come back
After crunching his numbers through the first half of 2008, the last sentence in his June 2008 letter is macroeconomic. All real estate is local, but if the consumer is strapped, the consumer is strapped!
Steve is one of the smartest guys in Atlanta real estate. He says that we are on pace to repeat 2003′s numbers, so sellers – take heed!