Kenny Slaught explains that people on the West Coast have to buy less trendy homes due to inflation. California’s property market regained the value it had before recession, and a peak was recorded in April this year. This happened due to interest rates and job growth. Los Angeles County saw a 3.5% increase, while Orange County noticed a 2.4% increase in jobs. 30 year mortgages have a rate of 3.5% or less, which is similar to the lowest 3.31 rate noticed in November 2012. While prices in California are unstable, the state has the highest values in the US except for Hawaii. Due to the fact that demand and supply don’t match, many buyers opted for the less expensive condos.
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