Source: http://www.inman.com/hstory.aspx?ID=45266
Home prices in Southern California continued their upward march last month, as sales remained relatively high. Buying activity and appreciation rates were particularly strong in affordable neighborhoods...
The median price paid for a Southern California home was $425,000 last month...That was up 21.1 percent from $351,000 in February 2004. Year-over-year home price increases have been above 20 percent for 13 months in a row. Last month's year-over-year increase varied from 16.3 percent in San Diego County to 41.1 percent in San Bernardino County.
But then it wouldn't be fair to say all the above without also sharing the latest "bubble babble" from UCLA...
Source: OCR, March 17, 2005
- The current national economic expansion is "reaching the probable time of death," with a marked decelearation of growth likely to begin this year...
- A recession "...is quite likely to occur by the end of the decade."
- In the shorter term, "...expecting trouble with housing" as soon as the second half of this year.
"The surprise will come at this time next year, when either UCLA or its many critics will be eating crow. Every economic forecaster in the country makes bad calls--and UCLA is no exception--but because its predictions tend to be more dire than most, its bad calls get a more attention than most," says James Kelleher of the Orange County Register.
