Source: New York Post
California’s spiraling housing crisis is being driven by insane property prices, draconian building restrictions and historically low mortgage rates that deter people from moving, an expert has revealed. The Golden State is in the midst of an unprecedented slump as buyers sink to levels lower than during and immediately after the Great Recession. It has sparked fears a housing collapse is on the near horizon, as the state battles its worst sales levels in more than 30 years and is seeing a mass exodus of residents.
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