Originally Posted by MediaArtist
California is great if you can afford it. The problem is far too many people try to live above their means just to stay here.
For the most part though, my sentiment about CA Real Estate has changed slightly. Compared to rising rents, and the typical payment for a house with 20% down, there are many places hitting rental parity.
People say CA is leaking jobs, and the economy is slowing down here, but I don't see such a drastic slow down (yet).
Developers are build apartments like mad in the Bay Area. They are beginning to build higher density single family (read town homes and homes with close to zero lot) homes again.
Rents are up and there are a whole bunch of first time or second time 'first time' home buyers out there.