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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Real Estate: Laid Back In Los Angeles
Posted on 12/21/2006 08:29 AM | Link | Post Comment
Real Estate: Laid back in Los Angeles from the USA TODAY,
reports on the Los Angeles housing market and states that even with the median price rising to $583,000, Los Angeles home market is stabilizing. Sales in November would be right around average if you look back over the past 18-years, says John Karevoll, an analyst at DataQuick Information Systems. Prices, which continue to inch upward, have stunned nearly every market watcher. "It's astonishing", says Karevoll, who still expects prices to decline 1% to 2% in the next three to six months. "L.A. is big, and it has a huge housing stock," he says. "There are all kinds of categories: new, old, big, small, cheap, expensive. It's like turning a supertanker, it turns slowly and moves incrementally." The lack of affordable housing in Los Angeles has reached "crisis" proportions, says Mayor Antonio Villaraigosa, and exodus of the middle class is hurting the city. Remember-- the majority of Phoenix's population gains comes from people moving here from California!
Here is a link to Elliott Pollack's latest power-point presentation titled Greater Phoenix: History and Outlook, that he gave to El Dorado Holdings
http://www.elliottpollack.com/WEBSITE%20SLIDES/El%20Dorado%20Holdings_121806.pdf
Elliott is very positive on the future growth of metro Phoenix and the housing market because of the continued population and job growth. Job growth or job loss is the key factor in determining risk to a particular housing market over price and affordability, in my opinion.
reports on the Los Angeles housing market and states that even with the median price rising to $583,000, Los Angeles home market is stabilizing. Sales in November would be right around average if you look back over the past 18-years, says John Karevoll, an analyst at DataQuick Information Systems. Prices, which continue to inch upward, have stunned nearly every market watcher. "It's astonishing", says Karevoll, who still expects prices to decline 1% to 2% in the next three to six months. "L.A. is big, and it has a huge housing stock," he says. "There are all kinds of categories: new, old, big, small, cheap, expensive. It's like turning a supertanker, it turns slowly and moves incrementally." The lack of affordable housing in Los Angeles has reached "crisis" proportions, says Mayor Antonio Villaraigosa, and exodus of the middle class is hurting the city. Remember-- the majority of Phoenix's population gains comes from people moving here from California!
Here is a link to Elliott Pollack's latest power-point presentation titled Greater Phoenix: History and Outlook, that he gave to El Dorado Holdings
http://www.elliottpollack.com/WEBSITE%20SLIDES/El%20Dorado%20Holdings_121806.pdf
Elliott is very positive on the future growth of metro Phoenix and the housing market because of the continued population and job growth. Job growth or job loss is the key factor in determining risk to a particular housing market over price and affordability, in my opinion.
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