UP: Sweet. The sale of existing homes rose 0.5% in the month of October, according to the nefarious National Association of Realtors. This is the first increase in eight months. [AP]
DOWN: Damn. The same article notes that the median price for homes sold fell a dramatic 3.5% from a year ago October, "the biggest year-over-year price decline on record." [AP]
LEFT: The housing boom is going bust. What to do? Buyers do your homework. Sellers lower your prices and give a bigger commission to the buyer's agent. If you're not buying or selling, just wait it out. [RealEstateJournal.com]
RIGHT: Only 22% of OCers can afford a starter home, with a mandatory income of $123,800 needed to get your foot in the door. The typical starter home is estimated at $599,280. Ha, ha. Did we read that right? Oh, the humanity. [OC Register]
RIGHT: Things aren't any better in LA County where only 19% of residents can afford the median priced starter home. The price of one of those subpar entry level murder shacks is slightly less than the OC model, at a pathetic $494,690. So where can you afford to buy? Try the high desert where 39% can still afford to find a starter home. Please move there now.[Pasadena Star News]