Archive for the 'california-equity-giants' Category

The financial allure of renting – How the real estate industry silences the voice of one third of Americans. Homeownership back to 1998 levels because owning a home requires income and affordability. $650 billion in real estate wealth evaporated in the last quarter of housing data.


Culver City real estate example of a mid-tier city tipping over into correction. Average income $77,000 yet most MLS listed homes selling for $700,000 or more. Few foreclosures selling for 33 percent below MLS non-distressed properties.


Down payments, stricter lending, stagnant wages, and massive pipeline of distressed inventory – 5 reasons why 2011 is not the time to buy real estate in California. Even FDIC Chairman Sheila Bair supports 20 percent down payments.


Home equity loans in California still over $600 billion. Pasadena and the mid-tier correction starting. Short sale for 50 percent off and HELOC machine being sold at auction for 70 percent below the outstanding loan debt.


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