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Discussion: (5 comments)

  1. Eventually, businesses and households must make capital investments to replace worn-out assets. But I wouldn’t expect a gusher.

    1. John Dewey

      If 20 million illegal immigrants are given a path to citizenship, I think we’ll see a gusher of new housing.

  2. I live in S. Calif and we are getting a housing recovery. 2012 was good compared with the last three years. About 20% of the sales in Calif are considered by investors — folks not occupying the home. In the LA area it has varied between 25 to a little over 30%. In my county — Ventura — we have a small presence of corporate investors doing the buying. This is suppose to be a national trend. In 2008/2009 — it was Stockton at ground zero, and Bakersfield had very poor numbers. I know things are improving in the Central Valley, but I do not know the numbers/data.

  3. Pricing in my area shows about a 10% gain this last year. But we have a long, long way to go to get back to the top of the market — 2006 — I don’t see that happening any time in the next several years. Money is tight for home buyers — not so much the money, but the qualifications. People out here have used their home as a credit card, so it will be a while for consumer demand to pick up at a good pace — it has picked up though. We have had several local economists make predictions for 2013 — they vary between 1-1/2 to a little over 2% growth — so they still see a sluggish economy. [But you all know what economist are worthl.]

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