The mid 1950’s was a time of development in California. The small farms and rural communities were fast becoming suburban tracks of the American dream. A family making the median income could afford to buy a brand-new home in a mass-produced suburb on the outskirts of cities such as San Diego, Los Angeles and San Francisco. The single-family home and suburban dream of 65 years ago became the American housing system. Year after year developments were built with basically similar homes with similar lots sizes surrounded by fences and sidewalks. Yet California has had a housing shortage for decades. Fast forward to 2021. It is not news that California home prices are some of the highest in the nation. Those same suburban homes today require two times the median income to even think about purchasing. They are no longer on the outskirts as cities and businesses sprawled outward. Since the mid 1970’s, when housing began out-pacing wages, many warned that the housing problems would remain...
My views on REAL Estate; trends, people, finances and any other ideas that are REAL estate related. Specializing in Santa Cruz and the Monterey Bay area of California.