REAL ESTATE NEWS
The U.S. Housing Market Bubble Races Toward a Crash as Foreclosures Jump according to CCN.
Foreclosures in the U.S. housing market spiked in October. While mortgage rates are near an historic low, home price growth has been outpacing wage growth. This prices buyers out of the market, bringing the likelihood of a nationwide price correction or crash. While L.A. County has thus far had only a 
limited number of foreclosures, Downtown Los Angeles area condo prices have already dropped by more than 4% over the last 12 months. As the cost of living has shot up, and homeless camps have spread across California, some wealthy, along with a great many middle class families have recently been packing up and moving away. The L.A. Loft Blog has projected an additional 8% drop in Downtown area home prices over the next two years.
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.