The typical monthly mortgage payment that Southland buyers committed themselves to paying was $2,437 last month, the same as the previous month and up from $2,052 a year ago. Adjusted for inflation, current payments are about 6.2 percent above typical payments in the spring of 1989, the peak of the prior real estate cycle.
Interesting that we are ~ 6% above the last peak in this number. I’d like to see a long-term plot of monthly mortgage cost over the last two SD or SO Cal real estate cycles.
Anyone know where we might find ?
Statistical Anomaly … Not
The article has the following statement “Southland sales have declined for eight consecutive months on a year-over-year basis.” followed by a comment that the drop may be “nothing more than a statistical blip,”
Doesn’t the first comment indicate that it’s a trend. A statistical blip would be a data point that deviates from the trend, not one that confirms it. What a dope !
