The current sales volume is lower than what we saw in the early 1990s.  In fact, current sales are the lowest since the market imploded a few years ago.  What gives? The current trend was driven by low inventory, investor demand, and house lusting buyers.  As investors pull-back and affordability falls, it is natural to expect volume to naturally pickup as it has.  Yet California is largely becoming a renter state. 


[But now] the investor crowd is pulling back: "Prices have gotten to the stage where we cannot buy a house, renovate it, rent it and still make a reasonable return," said Peter Rose, a spokesman for Blackstone, which owns roughly 41,000 rental houses nationwide. "There was a moment in time where it made sense."

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