California big purchase sentiment at bubble levels: The psychology behind house lust.By
You would have a hard time believing it but California’s homeownership rate is near a generational low but the good news is that hipster pants couldn’t get any tighter without turning into spandex. A large part of the state is now fully praying at the altar of real estate mania lighting incense for the HGTV gods to bring granite countertops alongside host with upgraded body parts. It is an odd sort of Hollywood herd mentality but this is how we do things here in California. While the majority of L.A. County lives in rental Armageddon you have geriatric house humpers salivating at the Botox stretched mouth when a crap shack hits the market. “This makes total sense with a 20 percent down payment! They don’t make land anymore!” They also don’t make more time and life is too short chasing crap shacks. But for some, the crap shack is the ultimate dream like sipping hard liquor in the Caribbean. The culmination of all financial success is being in debt for a beat up house and this is the race many are trying to run…
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