Affordability Orange County's Housing Problem

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Real Estate Agent with Elite Home Sales Team OC BRE# 02066030
https://activerain.com/droplet/x2S

Affordability Orange County's Housing Problem 

We are in the weak the weakest recovery since the Great Depression.  Part of that is the fact that under employment and unemployment is a serious problem that is not being committed to by the government.  With many of the folks down in income more than 3/4 of their incomes or out of business the small business owners are severely hurt.  The salaried folks are also hurt. 

So with that much of a down turn of incomes (3/4 of the origional) how do you afford a home that has only dropped 40 percent.  It just does not happen.  Even though the national affordability is at a record high we do not see that in Orange County, CA.

The NAHB/Wells Fargo metric index has Orange County home affordability improving.  Yet still suffers from one of the lowest affordability levels in the country, ranking 222 out of 225.  Just ahead of the most expensive metro areas of the US: San Francisco, Honolulu and New York.  Remember our median housing price fell below $400,000.  Most of those are much higher.

If we do not stop hurting the business climate in this State and in the Nation we are going to continue to see further drops in the housing market.

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Rainmaker
1,004,473
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Mark:  If those radical politicians on the far right would stop using the economy as a weapon for trying to either get themselves elected, or get rid of President Obama... things would be getting much better much faster.

They have become part of the problem rather than part of the solution.  They are the ones who are doing much of the  psychological damage to the economy.

Feb 28, 2012 12:12 AM #1
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Interesting perspective.  I do not understand but interesting none the less.

Feb 28, 2012 03:39 AM #2
Rainmaker
1,017,196
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It seems simple if we have business, we have jobs.  If business leaves we do not.  Need incomes to purchase homes.

Feb 29, 2012 12:56 AM #3
Rainmaker
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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Tim

Yes we do need jobs and businesses are the ones that produce jobs.

Mar 02, 2012 07:42 AM #4
Rainmaker
1,143,921
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Yeah those are some pretty dreary stats. I do agree if we continue to elect anti small business and big government that is a self defeating proposition like that of a giant tick. At first it can live on its host but as its completely sucks all the life out of it it is actuall killing itself as it to will die shortly after the host dies. Our government is following this and killing the host that keeps it alive. Sad

Mar 02, 2012 11:15 AM #5
Rainmaker
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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

US Mortgage

It is sad.

Mar 03, 2012 01:23 AM #6
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