I have been in my home for 21 years. Houses in my hood are now 1.2+ Any time we get new neighbors there is usually an MD or two.All I want to know is who is buying all the houses in california? Im not smart but I'm not an idiot where is the money coming from to afford a house in california?
There are still a lot of people here that make big money. Also a lot of people that are buyinig up. They paid 650K in 2009 sold in 2012 for 800K bought in 2012 for 850K sold in 2015 for 975K bought in 2016 for 1 million sold in 2020 for 1.2 and now buyinig in at 1.4 with low rates etc.
Also remember just becasue someone is approved for a loan does not mean they can afford that home, huge differnce.