11/06/2005

The Changing Landscape: Calif.'s Housing Demand

What do the 2006 housing market forecast and poinsettias have in common? Scroll down this article to see. California is about 50,000 units short every year on its supply of housing units, for many years--there are not enough being built. The current housing boom in Riverside County provides affordable housing, but the demand continues, not just in Riverside, but in Ventura, San Diego, anywhere there is open land, the housing development will carry on until the supply is caught up with. This obviously creates a lot of issues about remaining open land, energy use, and other local infrastructure issues. Interest rates will probably jog up in 2006 and prices will be affected to the degree that the rate of appreciation will slow on a statewide level.

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