Wednesday, October 28, 2020
Sunday, February 5, 2017
California Housing prices keep climbing !
It is it me or is the rent in Sunny california, really high now a days ?
In Southern California where most people can't afford to buy, are now faced with the same dilema for renting. Some say this is due to the state quadrupling in size with people, no new supply of apartments, and a low no vacancy rate. Which gives landlords the power to go up on rent.
Landlords are doing just that , to the point that rent is above record levels. Millions of people lost their homes due to the foreclosure crisis, in which many of them entered the rental market.
More Americans spend more than 30% of their income for rent in California.
federal housing assistance was not able to keep up with the growing population of low-income people created by the recession, the number of very-low-income renter households that received some form of housing assistance dropped from 27.4 percent in 2007 to less than a quarter in 2011.
we now live in a time , where homelessness is at a all time high. with people having to resort to taking up residency in a tent. located above , under, a freeway or riverbed .
In 2013, about 125,000 families lost access to housing vouchers—which make up the largest share of rental assistance,due to budget cuts.
California has the second lowest rate of homeownership. New York being the first.
A lot of people who were born and raised in Sunny California. Who once said "I was born here and can't picture myself living anywhere else'. Well due to the high cost of living, over crowds, and not enough supply over demand. Those same people are picturinaking up residency in other staqtes.
Where there is a shortage of rental units (especially lower incomes) and less federal support. There will be the worst rent affordability crisis in history,( Particularly California)
The stimulus act Congress passed in the wake of the recession directed $1 billion into rental housing. And HUD has launched several programs aimed at bolstering the number of low-income and public housing unit as a lot of people finding it harder to get by.
If you are trying to buy a home in California , try waiting a few years. When the market goes back down ,prices are so high right now that they aren’t going to move up that fast even if they do move up. According to I. Pirin (who wort the housing Bubble. Prices will be coming back down…wait two or three years for the bubble to pop, then buy your house for half price.
In Southern California where most people can't afford to buy, are now faced with the same dilema for renting. Some say this is due to the state quadrupling in size with people, no new supply of apartments, and a low no vacancy rate. Which gives landlords the power to go up on rent.
Landlords are doing just that , to the point that rent is above record levels. Millions of people lost their homes due to the foreclosure crisis, in which many of them entered the rental market.
More Americans spend more than 30% of their income for rent in California.
federal housing assistance was not able to keep up with the growing population of low-income people created by the recession, the number of very-low-income renter households that received some form of housing assistance dropped from 27.4 percent in 2007 to less than a quarter in 2011.
we now live in a time , where homelessness is at a all time high. with people having to resort to taking up residency in a tent. located above , under, a freeway or riverbed .
In 2013, about 125,000 families lost access to housing vouchers—which make up the largest share of rental assistance,due to budget cuts.
California has the second lowest rate of homeownership. New York being the first.
A lot of people who were born and raised in Sunny California. Who once said "I was born here and can't picture myself living anywhere else'. Well due to the high cost of living, over crowds, and not enough supply over demand. Those same people are picturinaking up residency in other staqtes.
Where there is a shortage of rental units (especially lower incomes) and less federal support. There will be the worst rent affordability crisis in history,( Particularly California)
The stimulus act Congress passed in the wake of the recession directed $1 billion into rental housing. And HUD has launched several programs aimed at bolstering the number of low-income and public housing unit as a lot of people finding it harder to get by.
If you are trying to buy a home in California , try waiting a few years. When the market goes back down ,prices are so high right now that they aren’t going to move up that fast even if they do move up. According to I. Pirin (who wort the housing Bubble. Prices will be coming back down…wait two or three years for the bubble to pop, then buy your house for half price.
Subscribe to:
Comments (Atom)