My living room is a hedge against deflation.
| Median housing prices in Inland Valley cities in March, along with percentage increase or decrease from March 2005: | ||
|
City
|
Median Price
|
%
Change |
| Bloomington | $375,000 | +33.9 |
| Chino | $474,000 | +14.2 |
| Chino Hills | $570,000 | + 6.5 |
| Claremont | $510,000 | + 3.1 |
| Colton | $333,000 | +21.1 |
| Corona | $560,000 | +16.4 |
| Diamond Bar | $567,500 | +21.7 |
| Fontana | $435,000 | +25.0 |
| La Verne | $540,000 | + 8.2 |
| Mira Loma | $560,000 | +19.4 |
| Montclair | $430,000 | +18.6 |
| Norco | $682,500 | - 2.2 |
| Ontario | $401,500 | +19.5 |
| Pomona | $400,000 | +17.6 |
| Rancho Cucamonga | $498,000 | +17.7 |
| Rialto | $370,000 | +21.3 |
| San Dimas | $612,500 | +29.6 |
| Upland | $610,000 | +35.6 |
|
|
||
| Milestones in housing prices in the Riverside/San Bernardino metropolitan area: - August 1987 - Median price tops $100,000 for first time ($102,615). - April 2003 - Median price tops $200,000 for first time ($207,540). - June 2004 - Median price tops $300,000 for first time ($304,810). - March 2006 - Median price tops $400,000 for first time ($403,000). Source: California Association of Realtors |
||
My living room is a hedge against deflation.
In the good news I recently bought a house here in rural Ohio, split-level built in 1977, on a 10 acre pond, sitting on a 2 acre wooded lot, two car garage, heated woodworking shop, heated in ground pool for $160,000. And its 10 miles from where I work.
The only problem I have had is the deer on my property eat anything and everything edible and the Canada geese are noisy in fall.
Here's a 1BR, 1BA under 1,000 sq. ft. vintage charmer on a 4,000 sq ft. lot in Crestline.
Only $139,000!!!
Looks like people go broke either way...if they can only afford a house way out of town, then they go broke commuting.
More sad news about the devastating economy under GW and Arnold.
I have posted a thread about March New housing bus across the nation:
http://www.freerepublic.com/focus/f-news/1621786/posts
Stunning 13.8% increase in new home sales
Market Watch.com ^ | 26 April 2006 | Rex Nutting
Posted on 04/26/2006 7:25:24 AM PDT by Grampa Dave
ECONOMIC REPORT Stunning 13.8% increase in new home sales
Median prices down year-over-year first time since Dec. 2003 By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) -- New home sales unexpectedly increased by 13.8% in March to a seasonally adjusted annual rate of 1.213 million, the highest level of the year, the Commerce Department estimated Wednesday. The increase more than reversed the 10.9% decline in sales in February. It was far stronger than the mild increase to 1.10 million annualized that was expected by economists surveyed by MarketWatch. See Economic Calendar.
Combined with the small increase reported in existing home sales on Tuesday, the report shows the housing market was much stronger in March than anyone had reason to believe. See earlier story. Other housing market indicators, including mortgage applications, housing starts and builders' sentiment, are pointing to a softer housing market.
Excerpt for full story go to:
http://www.freerepublic.com/focus/f-news/1621786/posts
I think it's gone on just about as long as it can. People need to think about getting out if they are planning on moving. House prices doubling there in 3 years. 3 years to double? That is freaking insane. Did incomes double? Interest rates actually rose. So, people are going deeper into debt to afford these places. There are going to be massive foreclosures if there is a recession. That will drop the value. I think if anybody has held onto a property for 5-10 years or so, and is thinking about retiring somewhere cheap, what better time is there?
Get yourself a massive property somewhere not in California, NY, or Florida. Invest the other several hundred thousand you have left over.