Is Oil Having an Impact on Housing? Taking a Look at Los Angeles County.
High gas prices are nothing new to those that live in Southern California. But there is something surreal about seeing prices quickly approach $5 per gallon. In fact, as you scroll through the list of your local gas station options, you’ll already see $5 a gallon for diesel serving as a highlight of coming attractions.
California Home Prices Down 35% From a Year Ago. Sales are up due to Distress Sales.
There may be a silver lining in falling prices and that is, homes are selling. Â Maybe not at the blistering pace of the early 2000s but there is definitely a minor jump in those searching for bargains in the now heavily hit California market. Â Incredibly prices are down statewide by a stunning 35%, the worst […]
Revisiting the Last California Housing Slump: How bad are Things Currently for California Housing?
Sometimes the best way to measure one current downturn with one from a distant past is to look at the headlines. Many will recall that California in particular Southern California faced a boom and bust cycle; in the late 80s prices went up only to bust during the early 90s. Much was to blame including […]
California Home Prices: SoCal Down 27 Percent Year over Year.
The California housing market continues to face severe pressure from distressed properties. Currently the amount of inventory on the market is near 1 year and prices for the region have fallen a stunning 27 percent on a year over year basis. Each of the major counties are now down $100,000+ from their bubble peaks. About […]