September 19, 2024

California Income Property Disaster

California real estate has had a very rough year and it’s only going to get worse. I look at how low rents have fallen over the last twelve months and its shocking. I believe that this eviction moratorium being extended has built up a wave, more of a tsunami of foreclosures to come.. Much bigger than the 2008 real estate crash.. This will blow everyone away.

Why do I think this? Rents are falling by 30-40% in most areas, courts are not allowing eviction cases to proceed and landlords are stuck holding the bag. How long can landlords hold the bag when business in CA is closed and landlords are not making money at both their business or on their properties? Now minimum wage increased and the cost of labor for business has increased only hurting business owners even more. How will this impact real estate? California Income Property Disaster

San Diego townhome for sale

How will this impact landlords and property investors? I believe the demand for overpriced property in CA will fade very quickly. We will look back on this in the next few years and see CA real estate as one of the biggest bubbles to pop. However that goes without being said, if Gavin Newsom is recalled and removed from office and we have another governor replace him and run this state more like Florida we will see a turn around.. Still a big crash but an eventual turn around. If not, we are in BIG BIG trouble.

Sad to see this place being slowly turn socialists and eventually TOTALLY COMMUNISTIC, makes my heart break. I can’t believe the state continues to vote left and allow these people to destroy such beautiful places with more homeless and more drug addicts than you could ever imagine. Sad, Sad, Sad!!!

 

California Income Property Disaster

2 thoughts on “California Income Property Disaster

  1. Pretty sure NY did something similar. The state wants to reclaim all the property they can so they can hold onto it, and “rebuild better” with new high occupancy rental units, and later on sell the high value homes to new investors “aka, their buddies”. There’s no way high value property that’s currently sinking will be turning into affordable housing and returning the land to nature, but that’s what they’ll sell the land grab as.

  2. Some people don’t really want to hear the truth, because it involves change and they want everything to stay the same!! I’m not one of them! I want to see the truth!!

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