Two Ways To Play: Buzzards Circle Housing Market
The hurt in housing continues in California. Bloomberg reports home prices in the most populous US state plunged 42% in December from a year earlier. In data provided by the California Association of Realtors the median price for a single-family home fell from $480 920 a year earlier to $281 100. But not all of the news was so glum according to Leslie Appleton-Young the group's chief economist. Affordability is improving across the state as prices fall into line with household income she said. Home sales rose 85% after the drop in prices. Investors also seemed quicker to snap ...
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