Home Prices at 2004 Levels; Good Time for “Rental Man”?
Bad news if you’re a homeowner; good news if you want to be one: Home prices have fallen 17.6 percent in Southern California in the past year and are now at 2004 levels, according to this L.A. Times story.
The rapid pace of the decline has led Los Angeles economist Christopher Thornberg, who last year predicted a 20% decline in Southern California home prices, to revise his projection. He now thinks prices will fall 40%.
If that happens, lots more people might be able to buy a house around here. But for now, with prices still declining, many would-be buyers are standing by, waiting for the bottom to come.
Speaking of not buying: Could it be a coincidence that this job ad landed in my inbox yesterday?
BE THE NEXT RENTAL MAN!
WestsideRentals.com is holding an open audition
for the role of Rental Man, our company mascot. You may have seen him dancing at various events throughout Los Angeles. Will you be the next Rental Man?
What: Rental Man Open Audition
When: Friday, March 14, 2008 @ 2pm
Where: Westside Rentals HQ (1020 Wilshire Blvd, Santa Monica, CA 90401)
Who: You!
Why: $60,000 a year plus all expenses paid for great seats at Lakers, Clippers, Kings, Ducks, Dodgers, Angels, UCLA, USC and THE SUPER BOWL!!!!!
Life in the world of renting must be pretty sweet if Westside Rentals (slogan: “Why Own When You Can Rent?”) is hiring a mascot for $60K a year and sending him to premier sporting events. I mean, the dude even has a My Space page (complete with theme song) and a YouTube video.
Recent Redfin Posts:
The More Things Change…. (Ben Stein weighs in with our blogger on the housing mess!)
Don’t Poke the Peacock
