Welcome to California, Japan!

California is currently experiencing a Double Dip Recession, that is contibuting to what we in the business are calling; "THE LOST DECADE"!



The Charts in this article spell it out pretty clearly. Real Estate housing prices are appraising at 2002 levels. That Million Dollar Mansion on the beach is selling for 50% off!



California, Here I come!!!



Matt Mathews

Mathews Realty Associates

Amplify’d from www.doctorhousingbubble.com

Is California the new Japan? – 5 charts showing nonfarm payrolls at 1998 levels, underemployment of 23 percent, 685,000 homes at least 90 days delinquent, a massive zombie real estate sector, and a decreasing homeownership rate.

California is facing a long and painfully drawn out foreclosure and budget crisis.  From talking with average people it is apparent that psychologically, people have a hard time imaging a decade where things move horizontally.  In terms of housing prices California is inching closer to a lost decade.  We’ve already reached it if we include inflation adjustments but we are getting closer to seeing a nominal realignment.  Thinking about it on a longer term basis shows us that California is likely to experience a Japan like economy for the next decade.  T Read more at www.doctorhousingbubble.com

 

See this Amp at http://amplify.com/u/aohz6