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. When the 2008 was half over we were at 4%+ interest rates, more over, we were coming from 5.5% a few months earlier, at that time it was already too late. TO is a mere shadow of its former self. All the decisions are for the best interest of Wall Street not Main Street. It’s for a Bel Air mansion. They are. They were defrauded, too. I agree that prices seem like they are high, but I can’t really imagine a scenario where prices drop significantly from here. Just think, you’ll enjoy this bright colored home and you’ll have the privilege of paying property taxes 3.5 times higher than the current Prop 13 rate. A lot layoffs in the year in the coal and gas/oil industry now, a lot pressure for the healthcare industry too. Robertl – I have to completely disagree with you regarding rising wages. Stop voting all together at most, or, at least, for the damn sake difference, try to vote some alternative candidate to see if it can make any difference – libertarians would be good example to start with, or someone who doesn’t belong to any party at all. I was listening to NPR the other day and I heard a piece talking about gentrification of neighborhoods along the LA river. Rs and Ds are just pupets representing the policies of the FED and CFR. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Recent wildfires have only heightened the stakes for a state that can’t seem to build enough new homes. Average Condo Price vs Inventory 7. Houses having 10 offers + over the asking price. Sol….Nobody really knows how long Moses lived? 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. And that right there answers your question. Slippery slope. No ecomony can grow at 0%, iit will be very gradual with some meetings no raising rates at all. On this blog how bad a drop will occur is the argument. “Bottom line is the banksters defrauded both home buyers and the investors who bought the loans.”. Unlike stocks, most households have to make the analysis of buying or renting. It is interesting to see that the stock market this year is also unsure of what it wants to do. It is interesting to see the justifications today for why prices are high. Sold crap-shack in 2012 and put $150,000 down on a $285k house with a private loan. 13 The large investors are all gone. The Fed Funds rate will be comfortable for them at 2.5 maybe 3% in 2016. Maybe if we enter another recession, there will be some decline in average home prices, but if you take a look at the market activity in the prime LA neighborhoods, there is a severe shortage of inventory. You make a lot sense. Not a flip. Before then, I hope that the bond market forces the Fed to finally raise interest rates and burst the bubble. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. I am like Jim, I think the housing market will tank not in 2015 but 2016. I would have been willing to work with the bank on a reasonable solution to the first house that they literally convinced me to buy by guaranteeing home values would never fall in Southern California (yes the lender not the real estate agent). Excerpts from the latest at MarketOracle on US Housing. The overwhelmingly large nature of first mortgages makes them — BY FAR — the dominant source of money in the economy. 1) QE consists of the Federal Reserve CASHING OUT T’ bond and T’ note holders — in a loopy way — ELIMINATING the national debt. Defaulted in 2009, bought a crap-shack for cash in 2010. In 2008 I owed $400,000 on a $150,000 house at 7% interest with a 40 year loan. This report goes over sales history between May 14 - June 11 and measures it against the same period in 2019. 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. The OLD lid of 30% ownership in any given coupon has been REPEALED. The LA/OC market is the epitome of this. 4) awesome companies like qcom n now illumina. There was no inventory to for anyone to have to compete for sales. It seems everything they do is to our detriment. Leo, is buried under the Civic Arts Plaza. It is the LA/OC region and you know why? Oh my gosh, so I don’t blame Dr. Housing Bubble when we lost about $250k for selling our home back in 2009 because, based on my own common sense from the economic outlook it just made sense that prices would keep dropping. FURTHER QE merely continues on this policy — perhaps until the US national debt has entirely vanished — straight into accounting entries back at the US Federal Reserve Bank — itself — de facto a US government owned agency. 2. the economic conditions leading to a major drop will be so freightning that they will be like a deer in headlights – paralized to take any action The last Time I checked the demographics was 35% Asians, 50 % Whites four years ago, now it is %45 Asians, 45% Whites. Buying property gives you a leg up if you want to request immigration status before your home country starts to uncover the source of the wealth and prosecute. Inventory is all but down in King County, WA. I predict that they stay as is for the next two years. You can see the recent big bounce up. 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. And the Attorney General is sleeping at the wheel. It's a home. Jobs are posted to get around Equal Opportunity laws and to get a sense of the competition. Get real estate facts on average house price, housing inventory, and average days on market. 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. If I type in all caps, is my point more important? Things might be less rosy in the IE and other secondary and tertiary residential markets, but that’s always been the case. There is also the issue of long term care. I see a whole bunch of people buying these housing who just honestly cant afford them. would not be worthwhile due to transportation costs. They can’t raise interest rates. There are still cash buyers driving up prices but those are dwindling in number. This young group of future buyers is unlikely to materialize, at least with current incomes. It does not really make sense to bring the topic of minimum wage when it comes to so cal housing. Across all pundit channels — no-one has the moxy to figure out something as obvious as this. I wonder if a group maybe analyzing all the rentals vs owners just to see how many shift from one group to another to determine when the time is right to pull the plug on the bubble. God only know what is in that deal. And now we understand with clarity why the USA is 20 trillion dollar in debt. The only issue that matters is what the Fed does. Someone actually commented in the clip that residents were afraid that building new housing stock in these neighborhoods would increase the cost of home ownership in these areas. The governement is by the FED and for the FED. Fortunately the US and global economies aren’t cyclical, so there’s nothing to worry about. More to the point, price-to-income ratios are incredibly out of whack. It certainly seems that way, with prices in this area reaching an all-time high. September’s 6.54 million in sales has left the market with only 2.7 … I was dumb a naive when I bought in 2006. Housing starts in the US jumped 4.9 percent to a seasonally adjusted annual rate of 1.53 million units in October of 2020, from an upwardly revised 1.459 million in the previous month and beating market expectations of 1.46 million. Those going in with low down payments might be in a position where equity is at par (or below given selling costs). 9 Jun, 2015  The FED will raise rate when we have a currency crisis, when the countries abroad will deny the US dollar, when no one will be buying the USTs, then the FED will have to raise the interest rates not because they want or can, but because they won’t have a choice. Ivan your Gov’t doesn’t worry about debt, matter of fact most are on a 30 day disaster in this country, live paycheck to paycheck just like Uncle Sam , if the debt was called in America would as broke as the guy asking for “brother can you spare a dime “on the corner. I predicted 2016 for housing to tank hard, now I say it is when FED raises rates + one year. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. That’s a sure way to get the economy to tank again. Those facts still remain intact: 1) SD is locked between ocean n desert thus limited land here I am about to be evicted from my rental for having cats. New modern money is created by bank entries when new debt is incurred. It doesn’t f@kkin’ matter, two criminal syndicates, just like bloods and crips, two sides of the same coin. the exact OPPOSITE of that which the mainstream press has been obsessing over for the whole of this year. Bad attitude. But the weather is so perfect! How much longer do I have to wait? The bills in your wallet are mere walking-around-money and are CONSEQUENT to the creation of money via the commercial banking system. I’m not saying housing will be immune, it will certainly take a hit. Left, right, left, right, the sheeple march over the cliff. We will not see any rate hikes any time soon simply because nothing has changed since the 0% rates were introduced. But sadly it’s all tied to politics. Sleepless….Let me break the news to you very frankly since I have been in this Re game for along time, nobody at big boy meetings give a hoot about King County Wash. “Their well-being comes way before any bank.”. Better do it now before they start up the firing squads. LOL. That is a massively important point to note. The common people getting jobs are not that well paying jobs. •The monster lurking in the shadow inventory, •The true picture of the California Housing Market, •Short sales and foreclosure made up 52 percent of all recent SoCal home sales, •Corona Del Mar most expensive zip code foreclosure examples, •Global housing bubbles collapse like dominoes. It is not just RINOs but liberals, too. Do you happen to work for the Government, and sit next to some guy names Gruber? 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. Also, since your mortgage rate is in the mid to high 3s, there is a huge incentive to just stay put. 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 … Did You Enjoy The Post? Of course, these changes happen over years. People who find work up here, or are able to work from home, sure seem to aiming in this direction. And those who lived in their homes for 16–20 years before selling earned a median of $87,900. 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???!!!!…. First 40 years as an Egyptian prince. A primary residence is not an investment, but a home. Perfect! I even went to Jungleland as a kid. Also, incomes in NYC are simply better than in L.A. and Orange County. Please check your download folder. I know they’re working for the same master. Interesting how the Govt is helping the poor with their housing situation but the middle-class are left to compete with the cash buyers and investors. In the next few years, many Economist and analysts predict that the housing market will continue to decrease because of employment, income, and quality of life. Financial catastrophe. On top of that, you have foreigners from China, Latin America, Eastern Europe and the Middle East trying to park their cash in the safest markets on earth, and Los Angeles real estate certainly qualifies. Chinese investments can dry up if their economy continues to struggle. Hilary is even a bigger fascist than Obama. It doesn’t mater if you elect Democrats or Republicans they are there for themselves and their cronies not for you or me. While I agree that prices in SoCal are high, even if you see a significant drop, people complaining on this blog will still not buy for the following reasons: 1. they will say never try to catch a falling knife i had a neighbor in my old condo building who bought a 2 bdm 2 bth for 399,000 in ’06. Hedge funds and asset managers buy commodity futures when other asset classes don’t look so good. Here is data going back 30 years: The blue line is the Case-Shiller Index with no adjustments. When you look at the US averages – – it’ s tough to say which side of the line the positive direction lies. 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. Infested with asbestos, needs a new roof, unpermitted additions, and just 1100 sq/ft. So, where as YOU think that the nation’s debt is exploding — it’s actually CONTRACTING. Longer term chart on 10’s right here, story line is that the housing cycles in the past has had a 2% to 2.5% move lower in rates in each future cycle, For that to happen in the future that means 10’s have to reach at base 0.95%, Milked this cow for as much as you can… maybe one more lower level cycle left,, Something is starting to look fishy about how these properties are being sold,, 05/18/2015 Sold view detail $865,000 Public recordsPublic records, 12/04/2012 Sold view detail $570,000 Public recordsPublic records, 06/14/2012 Sold view detail $494,313 Public recordsPublic records, 09/19/2007 Sold view detail $900,000 Public recordsPublic records, 07/26/2004 Sold view detail $520,000 Public recordsPublic records, 01/03/2002 Sold view detail $1,186,181 Public recordsPublic records, 11/08/1999 Sold view detail $280,000 Public recordsPublic records. This is also a reason why we see more booms and busts here. It is a big club and you are not in it. So if you are trying to make sense of the news under the illusion that these people are like the rest of us…. I feel really bad but have to let it go. It’s been MONETIZED instead. Let’s take a house in California that was bought for $100,000 in 1975 by a 40 year old couple and is now worth $1,500,000, not unusual at all. Also, it is easy to forget that 1,000,000+ Californians lost their homes via foreclosure and many today are still underwater even with the recent boom in home prices. When did it become wrong to have an opinion? When Paul Ryan supports this nuts trade deal with Asia, in support of Obama, you know that China has a gun to the head of America. Why am I mentioning this story? Not San Francisco. Question is…how high will it go? john… My wife and I can live anywhere we want and guess what boring, always freezing by the beach and to many lets say suspect people wondering around the beach, it was and never will be our choice. Since then, the housing has been all but the place to live, at least for “majority” of the “buyers” which are “investors”. 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). the debt bubble to tank hard in sept 2015. The market is still years away from reaching an adequate supply of … The state is seeing a wave of households opting to rent. Texas keeps getting mentioned like it is some kind of paradise/escape from CA. 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 I will be voting Republican in 2016 for my own selfish reason. No one gives two chits if the State bans Foie gras, but if you think the 1% and Corporate America are going to allow moonbeam Jerry to stick it to them, you have another thing coming. That silly notion is for PROLES and noobs. price-to-income ratios are incredibly out of whack, 2.3 million adult Californians are living at home with their parents,,, keep on truckin’! It's why today's American people are as much to blame for the housing bubble/crisis as banksters and realtards. It is fascinating from a psychological standpoint that today, many think that California housing is a simple and safe bet. I think the market is being propped up by density now. 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 ? I started reading this blog in 2008. 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. This means that — with each month that passes — the nation’s money supply MUST SHRINK. The doc of course has spoken of the adult children living at home phenomenon at length. Comparing San Francisco vs. United States Home Price Appreciation Trends since 1987 For those in the market looking at a $700,000 crap shack, you are really betting against the above chart. They are occupying the lower echelon and the so-so neighborhoods forcing those here legally into fewer and fewer units. Pray for QE4…. Even with the trend to higher prices, people have the choice to buy or rent. If others are impacted by the action, then there is a question of morality. Real estate funds do have to answer to investors who many not withstand severe economic shocks. The Fed in very interested in raising rates. no morality involved. 2) 0-care is COLLAPSING the creation of new money. Information is deemed reliable but is not guaranteed accurate by TREB, or Real Estate Bay Realty, Brokerage. Funny how we can’t read it. As we wrap the year, only 1-in-10 are seeing growth, placing housing into acute shortage mode. Tons of chinese buyers in 2011 but have slowed down now. How’d it work out for you last time? Republicans, Democrats? Hi Blert! Few facts my friends in 2007 told me in san diego to justify that the real estate prices in san diego would never go down. However, that trend finally started to reverse this past year. Previous Housing Bubble, Piggington's Econo-Almanac (San Diego Info), HousingTracker (Real Estate Market Stats). Yet some see no problem buying a $700,000 home requiring a $140,000 down payment to get down to a modest monthly mortgage payment. The current level of housing starts as of October 2020 is 1,530.00 thousand homes. Average Detached Home Price vs Inventory 6. In housing, trends reverse slowly. I have decided to sleep in my car rather than buy at these prices. it’s now worth 275,000. he should have walked away a long time ago. Plus all of the gov’t handouts to keep the masses semi-happy…. Commuting from the i.e. why ? Not worried about that, I have cash saved to purchase when the economy tanks. It’s a nice crapshack and you shouldn’t insult them so often. I need my own place. However, if someone wants to buy, be my guest – I am not stopping anyone from buying. Just an FYI the Bay Area is almost a mirror image of what you guys in so cal are experiencing. Housing market activity can fluctuate greatly over short time frames, says Bob Dugan, chief economist, Canada Mortgage and Housing Corp. . 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.. Keep voting the same pupets pushed by MSM and you’ll get the same type of policies forever. Their well-being comes way before any bank. Look at the historical data here and you will find out that California is all about boom and bust. What you wrote is facinating! I've been to San Diego. They’re sinecures for friends or the owners or other current employees. It’s too bad for the middle class, but the foreign buyers, hedge funds, and flippers are not likely going away. What’s still propping up the market is the fear for an imminent rate hike, but I don’t think that’s happening because the Fed has simply printed too much cheap money in last few years AND the govt has too much debt to allow even the smallest interest rate increase. •Lehman Brothers: The Rise and Fall of Lehman Brothers, •Housing Apocalypse Tomorrow – Homes with no mortgage payment in two years, •The other CA Bubble - Canada Housing Bubble ripe for popping, History of a Housing Bubble - LA Times Archive From But investors (those with big wallets) have pulled out dramatically early in 2014. Graph and download economic data for All-Transactions House Price Index for California (CASTHPI) from Q1 1975 to Q3 2020 about appraisers, CA, HPI, housing… >> 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! And they say real estate isn’t a speculative market. Channel is broken, watch for 2.66% and 3.04% high end channel levels. I wouldn't want to live there. 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? I dunno. would bail out the banks and they would hold on to the repos and leave them vacant or let people stay in their homes? >> i had a neighbor in my old condo building who bought a 2 bdm 2 bth for 399,000 in ’06. Maybe eliminate oo change 1031 exchange would be a start: As I said in 2024 early rates will go up 1/4 % in June. Today it’s hot and humid with June gloom even near the beach. What do you think this means for the housing market in So Cal in the near future? Ever wonder why food prices go up in recessions when presumably people have less money to buy food? It is certainly warranted, but I think this new bubble may have further to run. Take New York City: You notice how prices didn’t take a massive hit like the LA/OC area. I could retire quite happily on the proceeds. The county or city will be smiling if they have a lot of 70 plus year old homeowners today as they can expect a huge number of property transfers in the next decade but if local incomes are insufficient to buy properties at those kind of prices then property values are in trouble. Enjoy living in it. Another 40 years leading the Hebrews through the wilderness. I think the wad has been shot on interest rates. Obama had 2 years of Congress all packed with democrats, he nominated the Attorney General, and he had exactly zero prosecutions for his buddies from Wall Street who paid for his campaign, over a billion dollars. I don’t know what Blert will make of this, but Assurant Health is shutting down due to O-Care: The demographics is changing for the worse. Had the banksters done business prudently, home prices would have been much lower when you bought, and you would not have wound up underwater. Neil, it’s not just neocons, it’s also neoliberals, like Hillary. That’s because several adults are now sharing the homes formerly debt serviced by one… then two… and now 3 plus adults. The average San Diego house price was $675K last month, up 7.8% since last year. It’s not a question of if, but when. You know why? Even if we could predict market direction I think the powers that be might be conditioning the naysayers from ever buying and be permanent renters.

california housing market graph 50 years

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