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With congress bailout package in july 08...It will stop falling unfortunately
Jun 27 16:58 pm
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All Comments by TheyKnowNothing »Will Housing Bottom in 2010 or 2012? [View article]
For super overpriced state like CA...the bottom of property should have been
1) 3x to 5x medium income for medium home price
or
2) would have been 100x to 150x of rental
or
3) Rental that give 8% return
What is likely to happen...Rental goes up to meet the high property prices.
CA is way way way overpriced...