Tuesday, May 18, 2021

The Median House Price in California Now Surpasses $800,000


If you own a house in California, the odds are high that you might have ownership of a million-dollar asset.

Thank you, Federal Reserve.

The median price of an existing, single-family detached home in California brought the state's median price above the $800,000 benchmark for the first time, according to the California Association of Realtors.

California's median home price was $813,980 in April, according to the group.

Orange County saw its median home price increase to $1,100,000 in April from $1,025,000 in March. It was $861,000 in April 2020.

The biggest increase from last month was seen in the San Francisco Bay area, which saw its median home price jump from $1.225 million in March to $1.328 million.

Don't for a minute think, this advance is not mostly the result of massive Federal Reserve money printing.

 -RW

5 comments:

  1. Property taxes up too. This is how the network obtained land in the Great Depression. Fail to pay your taxes and the land goes to them.

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  2. Those prices are in part why we are seeing an influx of Californians who've sold out moving to lower priced pastures here in Tn. Its the Clampetts in reverse

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  3. I agree. I think Fannie and Freddie are also feeding the bubble by buying up all the mortgage loans.

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  4. Jimmy Joe MeekerMay 18, 2021 at 5:21 PM

    And yet people still relocate to california to work for companies that pay just enough to pay the interest on the loans if that. The corporations there must love it having a talented employee base that can't say no to an 80 hour work week because the employees are seven figures in debt.

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  5. Home ownership is only for the elite upper class.

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