1. In almost all zip codes today the total economic cost of home ownership notably exceeds the total economic cost of renting. For only a small minority is this unimportant; for them the psychic benefits of ownership are real and large.
2. The majority of owners and potential owners are pessimistic about any real increase in home prices over the next five years; many are of the view that the effective purchasing power of equity congealed in a residence will actually decline over the next decade, compared with other real stores of value
3. Most people with any knowledge of real estate are convinced that overt and covert taxes and fees on residential property will increase over the next 10 years while the municipal services rendered will decrease in volume and quality
4. Millions of Americans can barely afford to rent; they may have the desire but they neither the borrowing capacity nor the ready cash to buy
5. Continual malign interference in real estate markets by the Regime makes a mockery of true price setting and discovery and thwarts market healing.
Do you think the LA real estate market is also heading for a double dip??