Is the California Market on the rebound?
Read more about mortgage defaults decline in California at mydesert.com.
I was reading an article in the local paper about the housing market in California. According to the article Mortgage default notices for California homeowners dropped 24 percent during the fourth quarter. So this sounds like great news right? Should we be rejoicing that the crash is finally over? Or is there a catch? As I kept reading I saw the downside. According to the facts, the median priced home market appears to be stabilizing while the high end homes in the top percent of the market are now taking over in the default department. So while it is good news inn some aspects, we obviously are not out of the woods yet.
What are your thoughts on the market and the impact of the higher end mortgages defaulting now? Is this going to upset the day to day market even more then middle class? Or will this just be another wave to ride through?
The Lori Bowers Group
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La Quinta, CA 92253
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La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
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