Los Angeles Home Prices: You Are OK If …
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Submitted by Businomics Blog
If you bought a home in the Los Angeles metropolitan area, do you have a profit or a loss? If you bought before April 2004 then you probably have a profit. The average buyer who purchased a house after that month has a loss.
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This conclusion is based on inspection of the S&P/Case Shiller Home Price Indices released on July 29, 2008, reflecting data through May. This conclusion reflects the average home, and there’s substantial variation around the mean.
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The average experience in the 20 largest metropolitan areas is that July 2004 marks the dividing line between profit and loss.
