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 ? the exact OPPOSITE of that which the mainstream press has been obsessing over for the whole of this year. They were defrauded, too. He retires in January. So the demographic profile of California homeowners maybe a key metric in the next few years. These “jobs” are usually left open until someone’s friend or kid becomes available to work there. If they are from CFR (Council of Foreign Relations) they will pursue the exact policies of the predecesor regardless if they have R or D after their name. The one thing that I learned from buying and selling any asset: IT’S NOT A GAIN UNTIL YOU SELL IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Even though it’s bad for Education, Healthcare, etc etc. All counties of the San Francisco Bay Area except Solano experienced year-over-year sales gain in double-digit percentages with Santa Clara posting the highest sales growth of 32.4% followed by San Mateo (29.1%). Never before has cheap money from the Fed circulated throughout the entire economic system like it does now. Even with the trend to higher prices, people have the choice to buy or rent. Things might be less rosy in the IE and other secondary and tertiary residential markets, but that’s always been the case. •American savings. Here’s how much housing prices have skyrocketed over the last 50 years Published Fri, Jun 23 2017 2:26 PM EDT Updated Fri, Jun 23 2017 2:26 PM EDT Emmie Martin @emmiemartin All the decisions are for the best interest of Wall Street not Main Street. Which is why he never had a chance. 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. There was no inventory to for anyone to have to compete for sales. That might not be problem in Beverly Hills or Pacific Heights where you have a global market to sell to but for less rarified communities, it most certainly will be. If other basic needs, such as water and food, were speculated on like housing is, there would be mass riots throughout those cities. His projections for US home prices from 2013 and 2014 seem to hold true. Look at the historical data here and you will find out that California is all about boom and bust. The LA/OC market is the epitome of this. The California housing market took a breather in October as home sales and price gains declined as compared to the previous month but still recorded double-digit increases from a year ago.Despite a minor decline in the off-season, the consistent V-shaped recovery points to the housing strength for several more months. The housing market in recent years has been stuck in the same position. Average Detached Home Price vs Inventory 6. Within the Bay Area housing market, San Francisco was the only county with a drop in price, with its median price declining 1.5 percent from October of last year. why ? You forgot about the taxpayers. The boom and bust cycle is simply part of the California market. 100-Year Inflation-Adjusted Housing Price Growth was Less Than 1%/Year So, what's the result of over 100 years of ups and downs in the housing market? On this blog how bad a drop will occur is the argument. I will be voting Republican in 2016 for my own selfish reason. or are they all just like me, figuring that the 3% money is going away soon? California Association of Realtors in its June housing sales report said Realtors were feeling optimistic but a lack of supply is impeding the California real estate market recovery.. It’s well-known that house prices in the California real estate … Robertl – I have to completely disagree with you regarding rising wages. Mortgage Stress Test Impact 8. >> If its [it’s] a San Francisco house there could well be estate taxes to be paid too as a 1975 $100,000 plus property could fetch over $3 million today! Subscribe to Dr. Housing Bubble’s Blog to get updated housing commentary, analysis, and information. I am about to be evicted from my rental for having cats. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. I’m not saying housing will be immune, it will certainly take a hit. People keep voting the same crooks in and then whining about things being bad. Are you really gonna start doing this again? I’m just thankful I played the housing game reasonably well considering I bought my first home in 2006. And it won’t take a large rate increase. Ownership changes and so does the tax basis. Why does our own government hate us? IF they raise rates in 2020, then it is 2021. if that fed rate jumps 2% that is going to wallop some specuvestors where it hurts. Not a flip. People who find work up here, or are able to work from home, sure seem to aiming in this direction. Wages are simply not keeping up with price gains or even rent increases. I predicted 2016 for housing to tank hard, now I say it is when FED raises rates + one year. Inventory is all but down in King County, WA. 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. would not be worthwhile due to transportation costs. They are occupying the lower echelon and the so-so neighborhoods forcing those here legally into fewer and fewer units. That’s great. forget the rest of the world. Historical Detached & Condo Median Price in Toronto 3. What do sellers do in the face of both those trends? The fed is in a trap, they will raise rates to allow for your qe4 as it will be necessary.. The bottom line, somewhat surprisingly, is that the average annual price increase for U.S. homes from 1900 to 2012 was only 0.1% /year after inflation! The San Diego, CA housing market is very competitive, scoring 82 out of 100. Did you miss the part where DG claimed to purchase a home in cash the year after he defaulted on the loan? The current level of housing starts as of October 2020 is 1,530.00 thousand homes. The bank never offered any solution other than a long delay foreclosure and I was better off for it. And the Attorney General is sleeping at the wheel. Not Chicago. Just try to predict their moves, because you are in this game just for yourself. Wall Street, banks, the MIC, and the deep state (aka the 0.1%s) are running things for their own benefit to the detriment of everybody else. In the greater Los Angeles region, single detached homes rose $22,000 to a new price of $553,000.. San Francisco Bay Area, home prices jumped $35,000 or 3.6% over last month to a new average price of $1 … If you’re not, well, too bad. Better do it now before they start up the firing squads. I suggest that the last tool the bankster government is using to prop up prices is the open border. Where do you think those here illegally are living? Bubble on the topic of the CPI and its largest component “Owner’s Equivalent Rent,” I wanted to introduce now on this newer thread the the Chapwood Index, which reports the unadjusted actual cost and price fluctuation of the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation) has been averaging more than 10% increase a year for the last four years. Take a look at 30 years of housing data for the LA/OC markets. Unlike stocks, most households have to make the analysis of buying or renting. The doc of course has spoken of the adult children living at home phenomenon at length. Nothing just stays the same the same (?) In a previous article from Dr. Let’s see how does the housing market do in next few years..? Enter your email address to receive updates from Dr. Housing Bubble: The California housing trend: Taking a close look at 30 years of housing data. I’m in the same position. Translation: the astonishing top line US debt everyone kicks around is actually held by — drum roll : the US Government. can you elaborate on the economy in the US as a consequence of all these? And the crash is already part of the thinking in Washington. I’m self-employed and take a lot of deductions so I only qualify for a $350k loan with a 100k down payment. ... C.A.R. Bellevue becomes a China Town…. Irrigated desert, but still, IN the desert. You have a home. This interactive chart tracks housing starts data back to 1959. Real estate funds do have to answer to investors who many not withstand severe economic shocks. They knew full well that it would all go bust, but they didn’t care because they would sell the loans a month later, oftentimes selling the same loan multiple times. Get real estate facts on average house price, housing inventory, and average days on market. So how do you justify a $240,000 (a 65% jump) price move in a mere 3 years. Sold crap-shack in 2012 and put $150,000 down on a $285k house with a private loan. In housing, trends reverse slowly. It’s not a question of if, but when. I’ve been to San Diego. In the years ahead, California needs to radically overhaul its housing strategy, including requiring cities to plan and zone their land to accommodate more market-rate and affordable housing. I think a number of commenters have hit upon it, but it is the Chinese and huge pools of hedge fund money that have predominantly driven the market for the last 5 years in California! The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial or any other purpose. The red line shows momentum changes in the form of year-over-year changes. Therefore contrary to the Fed’s pronouncements, Fed policy remains in PANIC MODE, which means it will only be a greater panic that prompts actions to raise interest rates. It certainly seems that way, with prices in this area reaching an all-time high. If you like the house, like the neighborhood, if you want to LIVE there, and can afford the payments, then it's good deal. A primary residence is not an investment, but a home. There is a reason why the LA/OC market is the most overpriced in terms of housing. Oh, it was “sold just weeks ago” rather than one week. Again, I need to emphasis the point that interest rates since late 2008 have been in PANIC MODE, there is nothing normal about zero interest rates / negative real bond yields, and so the prospects for interest rate hikes should be viewed on as a result of a reaction to a greater panic for there is no free lunch as you cannot PRINT ECONOMIC GROWTH! But sadly it’s all tied to politics. 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. A lot of people gave up on looking for jobs and they are not counted as un employed. If the FED raises rates in September 2015 (which I doubt), then it is September of 2016. We will not see any rate hikes any time soon simply because nothing has changed since the 0% rates were introduced. A few hours later he emailed me a chart he’d whipped together, splicing 20 years of Canadian inflation-adjusted house prices onto his data for the U.S. housing market going back to 1890. I ask because 100% of housing inventory changes ownership over a period of 40 or 50 years as people die. 4) awesome companies like qcom n now illumina. Rent is outragious. It seems everything they do is to our detriment. If you see a candidate who was part of CFR (Council of Foreign Relations), stay away from them. THE 99 percent would have their asses in jail if they tried what the 1 percent got away with! But if you want to buy, here is a nice and bright home in Highland Park: This place sold for $90,000 in 1986 (the current tax assessment is $165,228). From the peak in 2006 to the bottom in 2012, inflation-adjusted housing prices lost 35.3% nationwide with some areas like Florida and Nevada losing 50% or more. It is interesting that many in California will look at the stock market as some kind of risky proposition, even when placing a $50,000 bet. This is almost exactly what happened in the last bubble.. An we all know how that worked out. I know they’re working for the same master. September’s 6.54 million in sales has left the market with only 2.7 … I never wanted to get rich off housing, I just wanted a roof over my head which is why I will never buy an investment home. I don’t what the limit on assets one can have to qualify for medicare paid nursing home care but it is considerably below what a California house costs so many properties will have to be transferred before death to pay for long term care or avoid have the estate bled dry at a $8000 plus per month clip. “1) SD is locked between ocean n desert thus limited land here”. The new OSFI mortgage qualification rules that come into effect on January 1, 2018 also impacted housing market activity toward the end of this year and are expected to slow activity in real estate markets across Canada in the first part of 2018. Continued Jobless Claims - Historical Chart, Auto and Light Truck Sales Historical Chart, 5 Year 5 Year Forward Inflation Expectation, Initial Jobless Claims - Historical Chart, Capacity Utilization Rate - Historical Chart. As I said in 2024 early rates will go up 1/4 % in June. So what’s left? First 40 years as an Egyptian prince. This administration promissed to be the most transparent ever and you tell me you don’t know what is in TTP, TPP and all the the other trade agreements???!!!!…. Overall, the housing inventory in the 50 largest U.S. metros declined by 39.6% percent year-over-year in September. There is a current slow … The common people getting jobs are not that well paying jobs. Considering my taxes were $6500 /year on the 2006 $400k house and now they are $3500 on a way nicer house I am happy about that too. But the Progressives will try to raise rates if they lose big in 2016. I mean heck, a combo at Carl’s Jr. is pushing $10 now without commensurate increase in income these turnips can’t be squeezed for any more blood.
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