Here’s the latest chart I can find that shows clearly the shape of the bus that hit the economy. This shows the bubble in statewide median home price. While Greater Redding’s overall median prices are lower, our price curve followed a similar trajectory.
Meanwhile, across the greater U.S. the chart shows the bubble was much less pronounced.
But still a bubble. And just so you know, this is from First Tuesday:
“35,202 new and resale homes closed escrow in California during April 2011, down 6% from one year ago when 37,481 sales closed escrow. Home sales dropped slightly from their March 2011 numbers in both Northern and Southern California.”
I’m trying to find a silver lining here. Help me out if you see it anywhere. This final chart puts things in perspective. If we had a line for Shasta County, it would be off the chart…
