Pandemic’s homebuying frenzy ignores California’s risky real estate past ...Middle East

One troublesome trend in the pandemic era is a curious lack of hindsight for the state’s historically volatile housing market. The unusual coronavirus mix of low mortgage rates and a desire by many households for larger living spaces has collided with owners’ unwillingness to sell. The ensuing tight market pushed prices to record highs as sales soared while others facing economic hardship skipped their house payments. My trusty spreadsheet, filled with California Association of Realtors stats on single-family house pricing dating to 1990, tells us that despite the extended upswing in values over three decades, there are more years of decline than you might imagine. The talk of “risk” isn’t a

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