Relevant:
- Beverly Hills witnesses a 23 percent annual decline in home values -- Low interest rates do not mean long-term housing prices will go up. Just look at Japan and their historical interest rates.
- california home prices to fall another 36 percent
- Hamptons Home Prices Fall 13% as Buyers Balk
- Home Prices in 20 U.S. Cities Climb by Most Since July 2014 (While Luxury Fizzles)
- The broke versus all cash buyer: Over 56 percent of Southern California home purchase came from FHA insured buyers and all cash buyers. Last month record level of buying from all cash buyers.
2007-09-09 — bloomberg.com
"From buyers who can't afford costly loans to homeowners who can't find a buyer, the mortgage market is a mess. Home-loan defaults are at record levels and analysts predict property prices in the most-expensive metropolitan areas of New York, California and Washington, D.C., will fall in the next year in the broadest decline since 1995. "
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