Case Shiller, one of the largest gatherer of data for the housing market has reported that home prices were up big time from last year. Not that this is news to us unless you never read a paper. Phoenix and Las Vegas were the big winners but L.A. also rose over 7% from last last year in November. Prices dropped a little last month but that is due to seasonal factors.
Interesting study from Zillow. It depends on where you live but here in L.A. the magic number is 4.3 years if you made a 20% downpayment. Because home prices and interest rates are low and rental prices are high, this is a great time to buy.