Posts Tagged ‘california home prices’

California Home Prices Declining $400 A DAY

March 27, 2008

It’s always interesting when you take a figure or statistic and slice and dice into a different presentation. Today it’s being reported that California Home Prices are declining $2,800 a week!

California Prices Decline 2800 A Week

It’s just a repackaged stat about the 26% decline in prices in California. Yet, $2,800 a week sounds a lot more dramatic than 26%, doesn’t it? And what if you take it down to the day, like I have in the title of this post?

I know the news outlets are just using their normal fear tactics to keep you listening, but in this instance I think it’s a public service. Too many people seem to be inured to the high prices of homes in California, and still don’t quite get that the market must continue to correct so more working Californian’s can truly afford a home.

The real question is how much longer will this decline continue?