The overheating real estate market: Even the National Association of Realtors acknowledges that rising home prices without rising incomes is not a good thing. Deep analysis of Culver City home and surrounding properties.
ByThe housing market is overheating and you can sense it when you speak to house humping enthusiast. The housing market can do no wrong and a correction isn’t even in the realm of possibility according to their views. But even recently, the National Association of Realtors recognized reality when they stated the obvious: rising home prices with no rise in household incomes is not good. This is why in California we are facing rental Armageddon. People are now desperate to buy and are getting all kinds of odd mortgages including those that come with zero percent down basically shifting a large part of the risk to the lender. These mortgages only make sense if you believe housing will never go down. Many Millennials are still struggling to buy given their weak income growth. Today we’ll take a look at a home in Culver City and see how far $1 million will take us…
