Home Prices Soar In Southern California

Median value hits a new record in Ventura County. Biggest gains are seen in north Thousand Oaks, while Oak Park loses ground.

1 minute read

June 23, 2003, 12:00 PM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech


"[Real estate agent Peter Greer] points to low mortgage rates as the fuel for the market gains, making expensive homes cheaper to buy than they were a decade ago...On top of that, Greer said, more buyers seem willing to sacrifice other luxuries to live in Southern California...Greer suspects that construction of high-end homes will slow to make room for development within urban areas, because the county faces a severe shortage of affordable housing. He said it's increasingly difficult for firefighters, police officers and other workers to buy homes."

Thanks to Brad Chad

Monday, June 23, 2003 in The Los Angeles Times

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