i was wondering because i moved out of state, and really want to go back. but im afraid of taking my whole life to pay off a home. compared to other states with cheap houses
2007-11-29 07:14:43 · 9 answers · asked by Venus_Infers543 1 in Business & Finance ➔ Renting & Real Estate
they may go down a little like 8% or so and may stay the same for a couple of years, but in the long run like seven years or more, absoulutley not unless there is a couple of catastrophic earthquakes.
2007-11-29 07:23:48 · answer #1 · answered by the d 6 · 0⤊ 0⤋
I doubt it.
There are way more people moving into California than moving out. The demand will always outweigh the supply.
If you plan on coming back you better come while the prices are still low and the loan rates a good.
2007-11-29 15:21:22 · answer #2 · answered by thebigcheese1993 2 · 0⤊ 0⤋
they'll go back to California's definition of 'reasonable', yes.
Cheap?? doubtful to never.
Why? government is in the way of building more housing in many areas/counties [Orange, for example] and the process by which a property owner can obtain the required permits to build [if and where it is safety wise feasible] is many years long and costs tens of thousands of dollars per acre. This means that even a 'california lot' of 6000 sq ft ends up costing the builder 100k or more and that's in a location 47 miles from the city.
why does CA government put up all these roadblocks? because the current homeowners, who also are the voters, figured out that limiting building as much as possible causes their property values to go up which allows them to, one day, retire to suburban Texas and be well-to-do.
2007-11-29 15:27:50 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 1⤋
Although the market is down for the short term, California will always be relatively expensive due to demand and state taxes.
2007-11-29 15:24:58 · answer #4 · answered by npk 7 · 0⤊ 0⤋
Not unless part of California falls into the ocean : )
No really, now and probably for another year or so will be the lowest. It will eventually go back up. You can't make more land.
2007-11-29 18:45:07 · answer #5 · answered by s 2 · 0⤊ 0⤋
A lot of areas in CA are seeing housing prices head for the basement.
Trouble is, with the high price of gas, people still can't afford the houses.
2007-11-29 15:23:38 · answer #6 · answered by gromit801 7 · 0⤊ 1⤋
Hey right now here in Calif. the house price is way down.
This is the time to buy.
2007-11-29 15:22:16 · answer #7 · answered by skunk 6 · 1⤊ 1⤋
Wait a few more years...prices are continuing to get back to "reasonable"...
2007-11-29 15:19:11 · answer #8 · answered by Christiane 3 · 1⤊ 1⤋
Anything's possible.
2007-11-29 15:23:49 · answer #9 · answered by kyle.keyes 6 · 0⤊ 1⤋