Wednesday, January 20, 2010

California housing news

Investors dominate home flipping, auctions - San Francisco Chronicle

Reminds the Japan real estate bust of the early nineties. Same thing happened. Folks thought they were getting great deals after two or three year price declines of 30% to 50%. Guess what... prices continued to decline in the ensuing years. And yes, home prices in Japan are still down 80% from the 1990 peak. Buyer beware.

Southern California housing market strengthens in December - Los Angeles Times

A uptick in median home prices does not indicate a strengthening housing market, it merely reflects a change in the mix of higher end homes being sold on the market vs starter homes last year.

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