by Boo_Randy
California Housing Market Pukes: As Sales Collapse (San Diego County -41%), Prices Begin to Swoon
The corporate media calls this a “shift” in the housing market. Wrong – this is what the early stage of a bursting housing bubble looks like.
wolfstreet.com/2022/08/19/california-housing-market-pukes-as-sales-collapse-san-diego-county-42-prices-begin-to-swoon/
San Francisco & Silicon Valley lead. Southern California is catching up. In Los Angeles County, prices fell in July from June for the first since Adam and Eve.
It’s peak home-buying season in California, but sky-high home prices, holy-moly mortgage rates, the collapse of cryptos, the vanishing DeFi, and the implosion of tech startups, SPACs, and IPOs, all of which are crucial to the wealth, or perceived wealth, of many Californians, pulled the rug out from under California’s splendid housing markets.
Sales volume of single-family houses (SFH) in California plunged by 14% in July from June, seasonally adjusted, and by 31% from a year ago, the 13th month in a row of year-over-year declines, according to the