California Housing Inventory Mystery: 206,000 Homes on MLS but is the Real Inventory 412,000 or closer to 618,000?
It is probably one of the least desirable tasks to undertake but if we are to understand the California housing market we need to look at the entire state current inventory level. Now having access to the MLS gives us a general sense of the overall number of homes on the market but it does [...]
Riverside and San Bernardino Housing: Two SoCal Counties with 4 Million People Experience 60 Percent in Housing Price Declines. And Prices are Still near the Bottom.
The Inland Empire of Southern California has been devastated with the current housing bubble bursting. A few other bloggers have covered this area in great detail but it is important to examine what is happening here. The Inland Empire is made up of two large counties, San Bernardino and Riverside. Before we look at details [...]
California Housing Still Over Priced: Examining Case Shiller Data and Seasonal Distortions. The Impact of Shadow Inventory on Price.
One simple rule that every student of introductory economics understands is that a product that has more demand than supply will typically push the price up. The recent stabilization in housing prices has given the impression that the housing market is correcting on its own. Nothing can be further from the truth. There are three [...]