Relevant:
- The mid-tier correction in California housing -- Burbank California shadow inventory three times the size of non-distressed MLS inventory.
- Short sales and foreclosures made up 52 percent of all recent Southern California home sales -- Lenders aggressively pricing lower-end properties to move. Two Pasadena examples.
- Rising home values in the face of stagnant incomes -- Home prices are rising at a rate three times faster than the CPI. Lowest available inventory in over 30 years.
- Home Prices Increase In Most U.S. Metropolitan Areas
- Managing shadow inventory -- California home prices up 12 percent year-over-year while household incomes remain stagnant.
2012-04-06 — doctorhousingbubble.com
``This is exactly what is happening and why home prices continue to fall. For example, the mid-tier market in Southern California has seen home prices fall by 8 percent in the last 24 months. Why? This is partly due to more short sales hitting the market and a large demand for lower priced properties based on stagnant household incomes.''
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