Southern California fondly remembers Y2K by taking prices back to 2000. The typical monthly mortgage payment in California is now the same as it was in 2000. Over 50 percent of all SoCal home sales are distressed properties.


The foreign buyer argument –Cerritos California has 82 percent of households listed as homeowners. Median income of $82,000 does not support city median price of $540,000. If it did, you would not see homes falling by $231,000 in a few short years.


FHA insured loans dominate top 20 metro areas – The near nothing down mentality is the new rage in the housing market. FHA loans showing massive delinquency rates and have the potential of costing the taxpayer $100 billion in another bailout.


Rancho Palos Verdes and Palos Verdes Estates welcome the California housing crash – From $1.75 million to $1 million in an elite market. MLS has 1 listed foreclosure yet 200 homes are in some stage of foreclosure in Rancho Palos Verdes. A $4.7 million loan made on a $1.5 million home sale in 2003.


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