Relevant:
- FHA low down payment buyers and cash investors dominate Southern California housing market – Not a healthy market when over 63 percent of sales come from these two groups. Move up sellers unable to shift because of negative equity.
- Record One-third of Home Sales in California were All-Cash
- 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.
- Southern California rental market getting more expensive
- "Like a Hollywood set, housing inventory looks to be low only because that is what is being presented"
2013-01-21 — doctorhousingbubble.com
2013 will bring some interesting perspective on the sustainability on the current housing boom. The NAR estimates that foreign buying has picked up. In areas like California about 11 percent of all purchases go to this group. You have wage inflation hitting places like China now rushing back in. You have local families with stagnant incomes needing to compete. Last month Southern California saw a record number of homes purchased in cash. What makes up a normal housing market? Is it one with a Fed buying up most of the MBS with a $3 trillion balance sheet?
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