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.
- Cash-only home sales rise in California
- southern california home sales lowest since 2008
- Home sales edge up, signs of stress remain
- Record One-third of Home Sales in California were All-Cash
2013-02-04 — doctorhousingbubble.com
The California housing market is one of the broker buyer versus the all cash buyer. Last month in Southern California 23 percent of home purchases went to low down payment FHA buyers. However, we had a record number of all cash buyers, over 33 percent. What you have is the broke and big money but very little room for the middle class buyer:
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