When is the Next CA Housing Price Collapse Supposed to Happen? (foreclose, college)

[CA4Now]

Originally Posted by neutrino78x

I have the VA Home Loans where you don't have to do a down payment. I don't understand why all home loans are not like that. Those down payments are surely a major factor restricting who can own a home.

Because most people who put nothing down on a home have horrendously high mortgage payments, and are a risk to banks. Veterans as a whole are a much safer bunch to whom to lend $.

[CA4Now]

The sluggish Southern California housing market took another hit in January, with sales plunging 17% from a year earlier, according to a report released Wednesday.

The six-county region’s median price rose only modestly, climbing 2% from January 2018 to $505,000, according to real estate data firm CoreLogic.

Besides the prior month’s 1% gain, January’s year-over-year increase in the median was the smallest since prices began their steady upward climb in 2012.

https://www.latimes.com/business/la-...227-story.html

[BB_210]

Makes sense now that the Fed isn't subsidizing the high COL and taxes the state offers.

[2sleepy]

Originally Posted by max210

Makes sense now that the Fed isn't subsidizing the high COL and taxes the state offers.

The 'fed'? The federal reserve bank has never subsidized anything or established tax policy

[BB_210]

Originally Posted by 2sleepy

The 'fed'? The federal reserve bank has never subsidized anything or established tax policy

Equally as confused as to what you're talking about since I never mentioned any of those things. I am referring to caps on SALT deduction. Deductions are effectively subsidies by the federal government.

[CA4Now]

The price of a typical home in Los Angeles falls to $579,500:

https://la.curbed.com/2019/3/21/1827...es-house-sales

[expatCA]

Originally Posted by CA4Now

The price of a typical home in Los Angeles falls to $579,500:

https://la.curbed.com/2019/3/21/1827...es-house-sales

Looks like only extremely high priced homes are dropping. From the site about LA


"
One reason for that could be that the recent drop in sales has disproportionately affected higher-priced homes. LePage suggests that some wealthy buyers may have held off on buying close to the end of the year due to concerns about the stock market.



Unfortunately for prospective buyers, that means that prices for more affordable homes are probably still climbing relatively steadily as 2019 gets underway."

[Slytrix]

Some big price drops at 2 Fallbrook home projects this week. Aurora Heights and Horsecreek Ridge. Granted they are both right off the freeway but they were selling for more.

[CA4Now]

Originally Posted by expatCA

...From the site about LA:"Unfortunately for prospective buyers, that means that prices for more affordable homes are probably still climbing relatively steadily as 2019 gets underway."

Probably true. Anecdotal only: The brand new $1.4 million homes that were built near us last summer and went on the market in the fall are still unsold. One has a sale pending sign. The others have been reduced to $1.3 K Still, they sit. Overdeveloped for the neighborhood? Nobody needs a brand new 5 bedroom house? Several face a busy street? All I know is that a couple of years ago, they would have sold in a matter of days.

[CA4Now]

"Southern California home prices barely rose in February from a year earlier, as buyers continue to struggle with the high cost of housing..."

Southern California home sales slowdown deepened in February; agents see busier times ahead:
https://www.latimes.com/business/la-...327-story.html