Quote:
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California home prices tumbled 32 percent in April from a year earlier
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I love it.
I hope those young, smart guys I worked with in Los Angeles who bought $600,000 homes with flimsy terms are living in cardboard boxes under the 405 Freeway. I recall with great pleasure their smugness and certainty that
you can't lose with real estate. They cited the value increases over the past few years --
as proof.
Unfortunately, I plugged my old zipcode (90278) into a Calif real estate calculator the other day and saw the area was only down ~5%
I think the big losses are out in Orange County and south toward San Diego.