Los Angeles Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The insane growth of the prior few years has quickly slowed and the first quarter was one of the slowest in the past decade. The prior gains were propelled by job gains and historically low mortgage rates. However, support has run out for current price levels as the market cannot sustain the extremely poor affordability. Consequently, nominal and real prices should be expected to decline towards the historic level of mortgage debt servicing cost.

SEE PRIOR LOS ANGELES PEAKS & TROUGHS Next >

Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Los Angeles Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2002	$291,000	15.1%	$323,400	12.2%	26.0%	16.8%
2003	$342,800	17.8%	$374,300	15.7%	29.7%	17.5%
2004	$434,600	26.8%	$463,200	23.8%	36.1%	18.8%
2005	$537,100	23.6%	$557,200	20.3%	45.4%	21.5%
2006	$586,500	9.2%	$591,000	6.1%	47.2%	21.6%
2007	$589,900	0.6%	$589,900	-0.2%	46.7%	21.1%

LOS ANGELES, CALIFORNIA - Q1:2007