Wednesday, August 29, 2007

Over-valued real estate #30 - Bakersfield, CA

For twenty years, house prices in Bakersfield moved up at a steady if unremarkable pace. Then in 2002, they shoot up into the stratosphere. Help me here; can anyone make any sense of property prices in Bakersfield? I would love to know what happened. A single family home is currently trading at 96 percent above trend.

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