Quote:
Originally Posted by okusa
The California RE market is not skyrocketing and is not in jeopardy of a correction. It is only 3 years off the 2012 rebound and growing at a historically steady rate. Based on history, not what "many people" say, there should be at least another 4 years of growth before there is any sort of correction. The LA job market is rapidly growing. However, the housing supply is not increasing. That means the increasing prices are the direct result of increasing demand and limited supply. Also, as foreign markets continue to struggle, investors will be increasingly looking to relocate their money back in stable U.S. assets, e.g., real estate.
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If you look at all the local RE ads in magazines and newspapers, you will see what I'm implying about. Also, which foreign markets are you referring to?