As you know, CA been benefiting from the real estate market with its soaring price. The most important question, after five years. Will the market cool down? And when it does, and whatever happens, will house prices every be affordable for low incomes?
2006-06-07 20:08:14 · 3 answers · asked by Anonymous in News & Events ➔ Current Events
Yes it had to.
2006-06-14 13:49:03 · answer #1 · answered by CottonPatch 7 · 1⤊ 0⤋
it has cooled down a little. I don't think housing prices will ever be affordable for low incomes. I got lucky bought a piece of crap house back 5 years ago and now it is worth a quarter of a million because it is located centrally between three major highways. the 10, 60, and hwy 79
It is on two lots and I wanted to put a modular home on it. Now in Idaho the price of the home and a couple thousand for land site prep would be it. But in southern California, I looked into and beside the price of the home I have to pay almost 80,000 in fees just to set up the modular. That includes the foundation which can go as high if they run into problems as 120,000 .............that is not affordable when you put the price of the property in, the home, then the fees.....then you add in house taxes....no low income can afford all that. So...I still owe 57,000 on the property, would have to pay 80,000 minimum for the base with fees, then pay at the cheapest 80,000 for a modular. So that is 220,000, that is still cheaper than any home I can buy here...but on my income as a single admin person. So I live in my rat trap and thank God for that.
2006-06-11 13:15:24 · answer #2 · answered by sweetpea 3 · 0⤊ 0⤋
I don't think the proces will ever go down on real estate in California
2006-06-08 03:31:00 · answer #3 · answered by Tanya 2 · 0⤊ 0⤋