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Housing Bubble

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Affordability Improves in California 

May 15, 2009By

Housing affordability among first-time Californian home buyers in Q109 improved more than 20 percentage points from the year-ago period, according to survey results released Thursday by the California Association of Realtors (CAR). The data suggest the potential for a significant increase in first-time buyer presence on the market, although it’s unclear how many of these households will actually participate. The increased housing affordability indicates substantially lower home prices, likely affected by foreclosure sales in the state.

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