Have Real Estate values reached market bottom in California?

How do you determine a market bottom in real estate, specifically in California? One of the prime indicators that we follow at Market Advisors is the Unemployment index.

“California’s 11.5% jobless rate in May is highest since 1941″ this was the headline in Saturday’s 6/20/09,SF Chronicle, page 1, by Tom Abate.

Certainly sobering news for pundits who have been calling the market bottom since the 1st quarter ‘09. Here is why we believe that we will see further declines in real estate values in California…simply put…

Increasing Unemployment = Increasing Default Activity = Decreasing Real Estate Values

A good reason why we continue to be buyers of real estate in California…it simply is an on going fire sale!

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