Some home shoppers are calling it quits, convinced that prices have peaked
LOS ANGELES - Two years ago, Mike Saavedra moved to Southern California, equipped with a new high-paying healthcare job and a plan. The former Arizona resident would rent by the beach while becoming familiar with neighborhoods where he may want to purchase a house.
But a few months after starting his search, the Manhattan Beach renter cut it off. It was, he decided, the wrong time to buy.
"I definitely think home prices are slightly overinflated," Saavedra, 48, said. And he thinks there's a good chance they'll fall. "I would kind of like to wait and see if that happens."
After nearly seven years of sometimes fevered price hikes,
