ML-Implode News - A Tale of Two California Markets -- Culver City and California City. Culver City prices back near peak levels with flippers out in full force. California City seeing prices back to levels last seen in the 1990s.

California is really becoming a place where the middle class is squeezed. This is really evident in our real estate markets. You have some areas like Culver City where home prices are back to bubble levels. You have flippers buying WWII housing with a few HGTV mods and selling the place for $170,000+ more in a few months (the median price of a US home). Then a few hours away in California City, you have big McMansions selling in the $70,000 range and plenty of these. Bidding wars for small WWII shacks for $600,000 and two hours away, big homes in areas are foreclosure graveyards

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A Tale of Two California Markets -- Culver City and California City. Culver City prices back near peak levels with flippers out in full force. California City seeing prices back to levels last seen in the 1990s.