Humboldt County Homes Slide

Inquiring minds are noticing even in “Pot Rich” Humboldt County home prices continue to fall:

The October value of $238,000 represents a 32 percent decline from the peak of the housing bubble — in March, 2006 — when the median-priced county home went for a whopping $349,500.

The steepest declines have occurred in Arcata, where median prices topped $400,000 12 times during the bubble (including an anomalous monthly value of $608,000 in 2006). The latest value is down to $259,000.

Add in an average 30-year mortgage rate of 4.62 percent — the lowest rate on record — and you have the strongest buyers’ market in years.

That last sentence should really scare you. Prices continue to fall even though the market is at its lowest. What happens if, no…when interest rates begin to climb.


One Response

  1. Pretty soon they won’t have a pot to piss in.

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