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Supply, Demand, and Tankers

One benefit of the construction boom: the incentives keep coming, says OC blogger Jon Lansner, noting the number of new homes and homes under construction--that aren't in contract--in Costa Mesa are 113 percent higher than a year ago. For a case study, we head south to San Diego, where buyer Jeanette Graham got developer Levin Menzies to pay 18 months of her homeowner association dues (about $500 a month) and give her $5,000 for closing costs. And she worked out a nifty mortgage deal.

Bonus in the San Diego story: A new metaphor! DataQuick analyst Andrew LePage calls the real estate market "a big oil tanker that takes a long time to change course." “I think we're in a turn and it's not clear which way we're coming out of it,” he says. On your left, LePage!
· O.C.'s new home inventory doubles[OC Register]
· Mixed signals for housing[Union-Tribune]