Posted on 06/30/2024 1:57:23 PM PDT by Kaiser8408a
Gimme two steps to sell my house. Are people getting out of dodge?? Calfornia Gpvernor “Greasy Gavin” Newsom sold his Sacramento home and moved to Marin County for better schools. Sacrramento active housing inventory is up 65.6% YoY.
Active housing inventory in May is up 27.5% YoY nationally, with Denver leading at 75.2% YoY. I highlight Columbus Ohio at +32.9% since that is where I live.
While the government may be able to fake BLS and CPI data to gloss over the fact that 5.5% rates have already likely driven the nation into a deep recession, independent data on the housing market is showing a decades-long shortage in inventory starting to rebound.
A new report from Construction Coverage has revealed where the largest increases in real estate inventory in the U.S. are taking place.
The report notes that the current housing shortage—which is now estimated to be between four million and seven million homes—can trace its beginnings to long before the COVID-19 pandemic. In the 10 years following the Great Recession, the United States constructed fewer new homes than in any other decade since the 1960s.
They write that the lack of housing affects certain areas more severely than others. Researchers ranked locations based on the percentage change in the average monthly housing inventory—the total number of active listings plus pending sales at the end of the month—between Q1 2023 and Q1 2024.
(Excerpt) Read more at confoundedinterest.net ...
We won't even get into how much car registration is in the state that once used to be great.
This is excellent news. Housing affordability is a big problem, and oversupply will help reduce prices.
Great! Plenty of empty houses to move the illegals into.
I was of the opinion that the home Newsome and his family moved into was the place OUTSIDE Sacramento (Fair Oaks/Carmichael) that was built for???? No governor after a certain time wanted to live in the Governor’s Mansion on H Street so a lot of buying/selling/moving has been going on for years. I’ve lost track of who lived where. I think Arnie flew back and forth from N. CA to S. CA every day/night?
Great news and just the beginning!
How are the ‘Squatters Rights’ law like? Asking for a friend.
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