All reports indicate a very strong economic recovery with strong job and income growth. This has been fueling the strong 30% increase in home prices just within the last year. The expert economists are saying that prices will rise albeit more slowly at a rate of 10% a year for a couple more years before tapering off at a more modest 5% a year.
At the forecasted rate I predict a median price of $1 million in Orange County with San Diego county perhaps a bit below that 🙂
This poverty stuff is hogwash…it just isn’t reality for most people who are doing really well. People with rising home prices are spending, some are even taking out home equity and spending.
Right now if you are not doing very well it’s your own fault.
