Investing in a house in California is akin to investing in Studebaker stock.
How will the cheerleaders at the Hagen-supporting Nat’l Association of Realtors spin this?
“It’s a GREAT time to buy a house.”
(Just not such a good time to sell one.)
DAVID SHRIBMAN: Why are people leaving California?
http://www.pottsmerc.com/opinion/20141010/david-shribman-why-are-people-leaving-california
Fourteen percent annual inflation in housing values is absurd; that is not a “recovery,” it is a rebounding explosion. We should be relieved at moderating prices.
Now, of course, a sudden swing creates anxiety, and could be a sign of FUTURE problems. So don’t bother “correcting” me with dire warnings, etc.