The price in the south bay of a single family home topped one million.That’s a 15% increase over last year.
However, most economists dont see a bubble and are forecasting a general 5% increase for this year for SoCal in general.
Read more on SoCal real estate is red hot- still!!!…
The House of Representatives passed the H.R. 10, the Financial Choice Act, along straight party lines. This is a sweeping overhaul of the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in the wake of the 2008 financial and housing meltdown.
Read more on Dodd Frank going away?…
We have hit the previous high for L.A. county
. In 2007 the median hit 500k and here we are again. The median is the number that has half more and half less. Prices rose 6% from last April.
So it took 10 years to come back again fully.
Orange county set a new record of 675k.
Once again, people are being forced out of L.A. and looking to the inland empire. Builders are starting to build more puds.
Interestingly enough, if you adjust for inflation, L.A. is still not back up to its former high.
The biggest increases have come from higher priced homes. Only 37% of homes in l.a, county are worth more than in 2007.
Are we headed for a bubble? Not yet,according to Fitch ratings which finds that prices here are overvalued by 5.2%. At the height of the last bubble, that number was 35.7% so we have a way to go.
Read more on Latest L.A. Home prices…
Had my son Bill here for mother’s day so i took advantage of that and recorded some questions i had. Everyone seems to have a different opinion.
Click below to listen
Read more on Should we care about Dodd-Frank rules?…