I’m curious to know the average age of homeowners in California. The doc of course has spoken of the adult children living at home phenomenon at length. When did it become wrong to have an opinion? You were underwater because the Banks were granting loans to just about anyone who could breathe, in order to create high demand and run up the prices. This new bust will probably be more like the dot com bomb circa 2000, and as you can see, housing did not budge all that much then. If you had invested in a property in San Francisco five years ago and cashed out in 2019, you would have made a 50% profit, never mind the rental income. Does that count? But sadly it’s all tied to politics. A lot layoffs in the year in the coal and gas/oil industry now, a lot pressure for the healthcare industry too. So barring another financial or economic catastrophe like the one we saw just a few years ago, I can’t really come up with a model as to how you see large price declines in these prime markets. Ivan your Gov’t doesn’t worry about debt, matter of fact most are on a 30 day disaster in this country, live paycheck to paycheck just like Uncle Sam , if the debt was called in America would as broke as the guy asking for “brother can you spare a dime “on the corner. But as everyone knows but a lot of people ignore that real estate in socal is a boom n bust thing.., it always was like this and it always would be like this.. >> 1) SD is locked between ocean n desert thus limited land here <> 2) best weather , everyone wants to live here <<. http://variety.com/2015/dirt/real-estalker/sam-nazarian-flips-bel-air-manse-back-on-market-1201518635/, Most relevant (to us small players) in this article: “Is this spectacular increase in desired value for the Grey/Nazarian estate simply emblematic of a still exploding top-end real estate market or is it an overt signpost that the current real estate bubble is about to burst?”. In 1977, the average sale price of a home in Greater Vancouver was roughly $90,000, according to the Real Estate Board of Greater Vancouver’s (REBGV) chart that highlights average home sale prices from 1977 to 2017. In other words, you stiffed those of us that pay our obligations. Did You Enjoy The Post? If the FED raises rates in September 2015 (which I doubt), then it is September of 2016. The U.S. housing market has been on a dream run of late as prices are rising thanks to the scarcity of homes available for sale. Ever wonder why food prices go up in recessions when presumably people have less money to buy food? And irrigation — and housing — can always spread eastward, if water is available. Plunge? Not an ATM. BECAUSE 0-care taxes young, healthy, newly family forming couples at ultra stiff rates to pay for its largesse those able to take out a first mortgage for their first home purchase has COLLAPSED. It doesn’t mater if you elect Democrats or Republicans they are there for themselves and their cronies not for you or me. If people buy and sell not on motivation anymore the whole market may just flounder for a long time or likely go down. I believe Prop 13 will get the overhaul it needs but as the article says, it will be on commercial property first NOT SFH. So we think that anyone getting a minimum wage or a bit above minimum wage of $15/hr with little to no benefits would be able to afford a house in so cal ? Since 2012 prices have begun rebounding and in nominal terms prices are slightly above the level they were in 2006 (blue dotted arrow). I’d say we are probably in the “new normal”. 2018… no bust yet?!! So barring another financial or economic catastrophe like the one we saw just a few years ago, I can’t really come up with a model as to how you see large price declines in these prime markets. FURTHER QE merely continues on this policy — perhaps until the US national debt has entirely vanished — straight into accounting entries back at the US Federal Reserve Bank — itself — de facto a US government owned agency. He retires in January. Not a flip. Rs and Ds are just pupets representing the policies of the FED and CFR. The demographics is changing for the worse. Is Northwest a new Kalifornia now? Ownership changes and so does the tax basis. We show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. Please check your download folder. why ? If other basic needs, such as water and food, were speculated on like housing is, there would be mass riots throughout those cities. What are you talking about? It is the LA/OC region and you know why? We’ve had a nice boom driven by investors and low inventory recently. Information is deemed reliable but is not guaranteed accurate by TREB, Listing.ca or Real Estate Bay Realty, Brokerage. L.A. County has 10,000,000 people and many are looking to buy in L.A. County cities, not L.A.  With that said, the homeownership trend for California has been moving lower over the last decade: Simply put, this means more renting households and fewer buyers. That’s great. Blert- Are you saying there is no debt bubble nor a credit bubble? I have a permanently wrinkled forehead trying to grasp the news of the day. Demand: Immigration into Toronto 5. Those going in with low down payments might be in a position where equity is at par (or below given selling costs). Sold crap-shack in 2012 and put $150,000 down on a $285k house with a private loan. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. If you like the house, like the neighborhood, if you want to LIVE there, and can afford the payments, then it's good deal. Get real estate facts on average house price, housing inventory, and average days on market. Simply put.. “1) SD is locked between ocean n desert thus limited land here”. Longer term chart on 10’s right here, story line is that the housing cycles in the past has had a 2% to 2.5% move lower in rates in each future cycle, For that to happen in the future that means 10’s have to reach at base 0.95%, Milked this cow for as much as you can… maybe one more lower level cycle left, http://loganmohtashami.com/2015/06/09/10-year-yield-having-a-2nd-taper-moment/, Something is starting to look fishy about how these properties are being sold, http://www.trulia.com/homes/California/Los_Angeles/sold/1077670-1213-S-Muirfield-Rd-Los-Angeles-CA-90019#photo-6, 05/18/2015 Sold view detail $865,000 Public recordsPublic records, 12/04/2012 Sold view detail $570,000 Public recordsPublic records, 06/14/2012 Sold view detail $494,313 Public recordsPublic records, 09/19/2007 Sold view detail $900,000 Public recordsPublic records, 07/26/2004 Sold view detail $520,000 Public recordsPublic records, 01/03/2002 Sold view detail $1,186,181 Public recordsPublic records, 11/08/1999 Sold view detail $280,000 Public recordsPublic records. This is also a reason why we see more booms and busts here. Do you happen to work for the Government, and sit next to some guy names Gruber? The bank never offered any solution other than a long delay foreclosure and I was better off for it. The fact that the economic “recovery” since then has mainly been felt by the 1% also means that the average person does not have far to fall. I was reading all your articles, going, “bahahhaha!” when the economists were saying prices were gong to rise. Yet some see no problem buying a $700,000 home requiring a $140,000 down payment to get down to a modest monthly mortgage payment. It's why today's American people are as much to blame for the housing bubble/crisis as banksters and realtards. Chinese investments can dry up if their economy continues to struggle. Or perhaps we will see many many years of 1% home price change until the market comes back into check. Sink in so, where as you think this new bubble may have to! 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