Thread: LA County 3 Bd Homes Less Than $50,000

4 Bdrm 2B; $42,000
http://www.trulia.com/property/10793...aster-CA-93535



3Bdrm 1 Bth $39,900
http://www.trulia.com/property/10794...aster-CA-93534



4Bdrm 2 Ba $35,000

http://www.trulia.com/property/10775...aster-CA-93535



3 Bdrm 1 Bth $44,900
http://www.trulia.com/property/10794...aster-CA-93534

Thanks Helse,

Not knowing anything about the neigborhoods and conditions these are interesting examples of the chaos occurring in the CA markets. Looking at the prior and current sales records are we see homes purchased in the 150/200 dollar per sq foot range now on the market for 30/50 per sq foot. (no calculations, only rough generalizations).

The most extreme I saw was the bottom picture of the first post (big pictures), 3br/1bth 1088sf home on the market at 44.9K with the previous purchase at 230K.

I hope the previous sellers put their proceeds into cash or treasuries as opposed to being decimated like the current owners and lenders but I don't suppose that actually happened very often.

It seems like CA went through this boom and bust cycle about 15/20 years ago as well.

I guess the lesson we need to learn is to be prepared for the rapid decline where there has been rapid price escalation. A tough, tough thing to do for us mere mortals.