The GraveYard Shift

[JD400]

Is the Los Angeles housing market in another bubble? Prices at new peak and up 81% since 2000.

The market is shifting but does this mean a bust?

TGYS Sunday Acoustic Breeze

We are creatures of habit and suffer from historical financial amnesia. As you would expect, the market is now turning and the question now shifts to how big of a correction we are expecting. Los Angeles has been in a decade long renting trend where the vast majority of new household formation has come in the form of renters. I understand that many people on this blog either own or want to own but the reality is, many people are voting with their wallets and rent because prices are simply too high. So it comes as no surprise now that sales are slumping and inventory is slowly picking up. The housing market in Los Angeles is up 181 percent since 2000 while the CPI is up 50 percent in this similar period. When you look at history, there is really no pattern as to how the market will respond and the reality is people do lose money in real estate which for many decades was something you were unable to utter.

Read the rest of this entry
www.doctorhousingbubble.com/

- July Morning - Uriah Heep cover Acoustic
https://www.youtube.com/watch?v=Qdh9LCg0tHA
Courtesy Jeff Harris Rip