5/04/2005

Demand for California Housing

Where will the tradeoff be between interest rate increases and continued demand for housing? Housing production may exceed 200,000 new homes and apartments for the second year in a row, and builders still may not be meeting the needs of a growing population. Last year alone 210,000 new units were built, the highest number since 1989. Historic lows in rates continues which compensates for the current market prices. So where will it level off? Rising interest rates will eventually impact selling prices, but a growing population will still fuel housing demand, while a continued positive employment outlook will sustain the current level of housing prices. See this article.

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