The California Housing Market

According to first quarter data for this fiscal year 2012 in the state of California, roughly 55 percent of occupied housing is owner-occupied, with the remaining 45 percent being renter-occupied. Of those who are statistically classified as owning a home, over 75 percent carry it with a mortgage and about 35 percent, or about 5,100,000 homes are near negative equity. It’s no wonder such a large number of people are choosing to rent homes in California when a majority of those who “own” a house would likely end up paying to sell. With the largest number of residents in the United States, California is actually a top spot for negative equity, with some 257,000 homes listed as being in foreclosure. Unlisted are roughly 500,000 homes that comprise state’s vast shadow inventory.

Recent data from the latest Census indicates that median household income in California is $57,000, while median net worth of a Californian household is $61,000 based on [outdated] figures from 2008 when the numbers were even better than they are now. Here in the Golden State where women herald Louis Vuitton and Prada and every other person drives an expensive luxury car, these numbers seem a gross underestimate. However, FHA insured loans that require only a 3.5 percent down payment allow people with little savings to buy homes and hidden $800 lease payments on those foreign cars only add to the image of affluence that Californians seem bent on maintaining. Clearly it is not just the bubble contributing to this trend of negative equity, but psychology as well.

The median income to median price of a home is extremely important because it shows what investors can afford in a home price. Typically the banks are going to require that you have a 40% – 45% debt to income ratio in order to qualify. This means that all of your debts including car payments, credit card payment, house payments and more cannot be more than 40% – 45% of your income in order for you to qualify for financing. Since the median income in California is $57,000 then the maximum amount of debt one can pay (including the mortgage payments) is $1,900 – $2,138 per month. Take a $400 per month car payment out, $400 per month in credit card payments and $400 out for other payments and you are left with a maximum mortgage payment of $700 – $1,118 which equates to a house worth $138,000 – $221,000. The current median home price in Southern California is about $270,000 which means prices still have to come down in order for people to qualify. The professional flippers I know are finding it is taking an av rage of 2.5 buyers to sell their home at market value due to these financing issues.

Choosing the Best California Business Program

If you want to make proper advances in your career then you need to make sure that you choose the best course available these days. Business programs have become quite popular these days. Lots of students are not showing interest in the academic courses and instead of that they are choosing the business oriented courses.

These kinds of courses are usually known as job oriented courses because they help you get the best jobs available in the market. You need to find the best business schools in your area to make sure you get the best training.

If you are a resident of California then you need to look for the California business program. California is one of the most popular states located in the United States and it is situated in the west coast of this country.

The state is nicknamed as the golden state. It is also the most populous state in this country and this is the reason why there is huge completion in the job market. The California business program can help you have an edge over your competitors.

There are students who are confused about what to do after completing their high school. A graduate business degree California university can help them enter into the job field easily. Other than this, if you choose an MBA degree then you can make quick developments in your career.

The University of California offers a wide range of business schools and degrees which can help you change your future. These business schools are quite popular for offering some of the best management programs for the students of California.

Other than this, you also have the University of South California which offers different kinds of programs. South California business degree is also quite popular among the students of this state. At least 3500 students graduate from these Universities every year.

One of the most popular programs among the students is the MBA program. Southern California University business degree has helped lots of students to remain in the competition present in the job market. Temecula business degree can also offer you the kind of break that you need in your career.

The University has opened up its branches in various places in California among which Temecula is one. You can also choose any private University to take up these courses. But there are certain things that you need to make sure. First of all, the California business program that you choose must be affordable.

There are certain programs which are quite costly. If you perform a good research you will be able to find the best graduate business degree California University. So start building your future now with these programs.