Southland Real estate is hot, hot ,hot

Southland sales are up18% since Sept and hit a 3 yr high riising 25% over last year. Prices were up too-rising 16.7% since last oct.

This is amazing. Most people paid market or above since non-owners bought 28% of the homes. These are mainly cash buyers who are creating a shortage which is driving the market.

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Are we headed for another bubble?

Prices are really jumping because of the shortage of homes available and the big hedge fund dummies buying up everything. However, i am concerned. This is not a natural progression. Usually prices increase when income increases. This is not why prices are increasing. Income has not increased in Ca and the job market still stinks.

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