Home prices fall in Southern California for the first time in 7 years.
The Los Angeles Times recently reported a decline in Southern California home prices for the first time in 7 years. This taken together with a significant drop off in the number of homes sold and a drop in national home prices, as reported by the United States Census Bureau, suggests we may be seeing a turn in the residential real estate market. If true, this could lead to a significant drag on the U.S. economy. How all of this might affect your investment portfolio, is something worth considering.
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