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california: The True Picture of the California Housing Market
- 04/25/12 10:55 AM
According to first quarter data for this fiscal year 2012 in the state of California, roughly 55 percent of occupied housing is owner-occupied, with the remaining 45 percent being renter-occupied. Of those who are statistically classified as owning a home, over 75 percent carry it with a mortgage and about 35 percent, or about 5,100,000 homes are near negative equity. It’s no wonder such a large number of people are choosing to rent homes in California when a majority of those who “own” a house would likely end up paying to sell. With the largest number of residents in the … (0 comments)
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california: Southern California Real Estate
- 02/18/12 07:38 PM
Riverside and San Bernadino were recently rated as two of the most affordable regions in the state of California, undoubtedly due to their price collapses in real estate. This report came from the California Association of Realtors and actually used household income and home values as a measure of affordability. Looking back on the history of home values in California, the Inland Empire appears to be making its way closer to a nominal lost decade, never mind already being at an inflation adjusted one.
Since May of 2010, prices in overpriced counties of Orange County and Los Angeles are … (2 comments)
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california: California Housing Issues
- 02/09/12 03:32 PM
In early October of last year the Controller of the State of California released data showing that California fell more than $700 million short in initial budget plans for the year. A slight miscalculation, an overly buoyant disposition, or perhaps just sheer ignorance; whatever the reason it is easy to see why, given the such a disjointed mindset, we took the housing bubble to a completely different level. That being said, another housing rally downward is not completely out of the realm of possibility here.
California continues to have an outrageous amount of distressed properties, with numbers for NOD’s … (1 comments)
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