More bad news for California is Great news for the rest of us. Maybe they will take care of their own business and keep their noses out of ours. And leave our walets alone, too.
Home Prices Plunge Across California
Thursday March 13, 3:11 pm ET
By Alex Veiga, AP Business Writer
California Median Home Prices, Sales Plunge in February
LOS ANGELES (AP) — Median home prices plunged in many of California’s most populous counties in February, with Southern California leading the slide with an overall drop of 17.9 percent compared to a year earlier, according to new housing data released Thursday.The drops reflect a deepening housing crisis in the state, which saw home values soar during the housing boom then decline sharply in most areas.
Median home prices fell this year in 15 major counties, DataQuick Information Systems said.
The median price in a six-county area of Southern California fell to $408,000 — the lowest level since October 2004, when it was $402,500. That median is 19.2 percent below the region’s peak price of $505,000 last summer, and it’s 1.7 percent below January’s median, the firm said. Read more
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