POINT 2 HOMES
Should you buy or rent in California?
CSUF finance expert Jia Xie has the answers on what to expect in California's real estate market.
Feb. 5, 2020
Despite a forecast pointing to slowing economic growth, California’s economy in 2020 is still likely to outperform the nation’s economic trajectory. Moreover, economists expect real personal income to grow by 2.1% in the following months and average unemployment rates to reach 4.3%, a little higher than in October 2019 (3.9%), when they reached the lowest level since 1976.
But if growing wages and decreasing mortgage interest rates draw people to the Golden State, construction rates and soaring housing prices push them out. It’s especially the lower- and middle-income residents who are affected.