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strbear

26% Yoy Drop In California

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Statewide, median sales prices fell by a stunning 26% from year-ago levels in February, with home prices dropping at a rate of nearly $3,000 a week, the California Association of Realtors reports. Further, the CAR says the Fed's interest rate-cutting campaign "will have little near-term direct effect on the housing market."

--In the San Fernando Valley, losing a home to foreclosure is now almost as common for families as buying a home. The L.A. Daily News: "During January and February, there were 1,084 foreclosures and 1,335 sales of houses and condos in Valley communities from Glendale to Calabasas, according to the San Fernando Valley Economic Research Center at California State University, Northridge."

"It's bad. It's really bad," market analyst Nima Nattagh told the Daily News.

The opposite appears to be happening now, as lower-priced foreclosed homes come onto the market, increasing sales at lower price points, while the market for more expensive homes has slowed dramatically.

Enjoy - its a bear-fest!

SB

http://latimesblogs.latimes.com/laland/200...ornia-free.html

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US people are now so worried about the banking system and also housing that they're putting their money into gold and silver.

that's why nearly every SILVER BULLION dealer in the US and Canada has run out !!

the demand is now outstripping supply by a huge factor - so much so that the entire government inventories of silver are now exhausted.

if you don't believe me do your own research - & have a look at the increasing industrial demand. 'MoneyWeek' have a few good articles on silver.

i garuantee you'll want to buy some when you've checked it out.

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US people are now so worried about the banking system and also housing that they're putting their money into gold and silver.

that's why nearly every SILVER BULLION dealer in the US and Canada has run out !!

the demand is now outstripping supply by a huge factor - so much so that the entire government inventories of silver are now exhausted.

if you don't believe me do your own research - & have a look at the increasing industrial demand. 'MoneyWeek' have a few good articles on silver.

i garuantee you'll want to buy some when you've checked it out.

Goldfinger? Sorry but 6 posts, silvershitter and you have to post this crap on a thread about cali house prices?

EDIT: dude all 7 posts today about silver WTF?

Edited by domo

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My cousin bought right at the top in Los Angeles in 2006. My Uncle gave him $150,000 towards the $600,000 two-bedroom house!

Yeeeeeee haaaaaaaaaa!!!!!!!!

Well thats your Uncle's contribution gone.

We'll were looking to buy in Santa Monica / Westwood or Newport Beach so it's good news for us - and with $/£ over 2 its even better - sorry to everyone if I'm a bit California centric but I think its a good indicator.

Regards

SB

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US people are now so worried about the banking system and also housing that they're putting their money into gold and silver.

that's why nearly every SILVER BULLION dealer in the US and Canada has run out !!

the demand is now outstripping supply by a huge factor - so much so that the entire government inventories of silver are now exhausted.

if you don't believe me do your own research - & have a look at the increasing industrial demand. 'MoneyWeek' have a few good articles on silver.

i garuantee you'll want to buy some when you've checked it out.

Wow, do you have a website where I can invest in this 'no-brainer' before I miss the boat?

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What are other costs e.g. taxes like in California?

Income tax between 1 and 9% up to $1M

Sales tax (VAT) is around 8%

They have a property tax each year on the value of the property (approx 5%) - its causing real problems with falling house values!

Overall not too bad tax wise - healthcare is a different issue!

RealistBear can probably add to the above as he lived there for a few years - RB?

Regards

SB

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ok domo, i take your point. i buy silver from dealers in california (which is how i came across this thread) and none of them have any supply. ONe of them told me that was the reason. DYOR etc ;)

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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