Bakersfield Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

1 | Page 2 | 3 | 4

The record growth of prior years slowed in 2006 as Bakersfield posted real median price gains of $15,000. The housing boom has been aided by continued job gains and historically low mortgage rates. However, price growth began generating a concern in the middle of 2005 as affordability levels begin to exceed local historical norms. Consequently, nominal prices should be expected to decline and head towards the historic level of mortgage debt servicing cost.

SEE PRIOR BAKERSFIELD PEAKS & TROUGHS Next >

Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Bakersfield Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$123,200	7.4%	$139,300	4.6%	17.3%	17.8%
2002	$136,100	10.5%	$150,000	7.7%	17.5%	17.5%
2003	$159,600	17.2%	$172,800	15.2%	20.0%	18.3%
2004	$210,000	31.6%	$222,000	28.5%	25.2%	19.6%
2005	$271,900	29.5%	$279,900	26.1%	33.2%	22.6%
2006	$295,000	8.5%	$295,000	5.4%	34.3%	21.7%

BAKERSFIELD, CALIFORNIA - Q4:2006