Mortgage rates in the U.S are at their lowest rate in more than three years. This could mean a boost to the market ahead of the spring selling season, according to the Wall Street Journal. But home prices have been rising, including in California.
The L.A. Times reports, home prices this past December were up the most in 19 months. Sales in the state were up by about 22 % from December 2018. Economists have said it shows the market is gaining momentum and that could be attributed to an ease of recession fears and a rise in income levels. Rising home prices spell continued trouble for residents struggling to buy a home in the state.
Today on AirTalk, we check in on the state of the Southern California housing market and discuss what housing experts expect to happen come spring time.
Richard Green, housing policy expert; director of Lusk Center for Real Estate at USC; former senior advisor at the Department of Housing and Urban Development under the Obama administration
Christopher Thornberg, founding partner of Beacon Economics, his focus includes economic forecasting, employment and labor markets and economic policy