Only 1/3 Californians can afford a home.
http://www.doctorhousingbubble.com/california-housing-affordability...
<p>The housing market is definitely softening. Sales are slowing down, price reductions are increasing, and affordability has decreased dramatically because of spiking interest rates. The problem with relying with artificial stimulus is that the market becomes conditioned to easy money. A recent survey found that only 1 out of 3 Californians had the means to purchase a home, down from 49 percent one year ago.</p>
<p>The housing market is definitely softening. Sales are slowing down, price reductions are increasing, and affordability has decreased dramatically because of spiking interest rates. The problem with relying with artificial stimulus is that the market becomes conditioned to easy money. A recent survey found that only 1 out of 3 Californians had the means to purchase a home, down from 49 percent one year ago.</p>
Replies to This Discussion
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Permalink Reply by Central Scrutinizer on
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i believe it...my 2 bedroom on Sunset and Highland was $2100/mo just to rent....and that was 20 years ago....can imagine what the slumlords of Cali want now...last stand Santa Monica was the only rent-controlled area left, wonder if that now went in the trash???
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Permalink Reply by Deep Space on
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For $2100/month you should be able to burn it down if you feel like it.
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Permalink Reply by joe banana on
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Only 1 in 3 Californians have a job.
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There must be really good fishing on the beach there to support so many people
hmm, they aren't fishing
Ohhh, I see
Ahhh, now I get it
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Glows in the dark too.
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