GOOD: Home prices by 2015 will return to high values of the past
BAD: Home price will increase to past high levels
UGLY: 5-10 year CA will see another crash (it CA)
BOTTOM LINE: No market crash for near future, but in CA their is always a market real estate crash!
The annual rate of new home groundbreaking still is far below the peak of more than 2.2 million units reached in early 2006 during the housing bubble. But the pace has picked up dramatically from the low of 478,000 in April 2009, and is up sharply from the 706,000 annual rate in May. Building permits for private housing construction, a sign of future activity, also jumped in September, up 11.6% from August and 45.1% from a year earlier. The annual rate in September was 894,000 building permits.