Maryocon

The Future of California's Housing: Shortage Ahead?

In the third quarter of 2008 the affordability factor for all of California was 53%. To some people that might not seem very low but to those of us who live this market that is a very good rate and I suspect that it is historically average to low. When you go from a 3, 6, 10 percent affordability to over 40 or 50 percent you have opened your market up to millions of more buyers.
Sure there are going to be more defaults but don't kid yourself there are a lot more buyers out there now just waiting to get into the market.