Is the California Housing Market Bouncing Back?
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Home prices are rising. Los Angeles is seeing some of the biggest gains in the country. Prices are still below their peak of seven years ago. So it is a good time to buy? Investors seem to think so. California is seeing more house-flipping than anywhere else, which raises the specter of another housing bubble. There are bidding wars and all-cash offers. Guest host Madeleine Brand asks, who are these buyers? Also, The Bling Ring, Hollywood imitating life imitating Hollywood.
On our rebroadcast of today's To the Point with Warren Olney, President Obama wants another stimulus plan to repair roads and bridges, but Congress is not enthusiastic. Plus, saying goodbye to a political lightning rod. Congresswoman Michele Bachmann calls it quits.
Is the California Housing Market Bouncing Back? ()
It looks like the housing market is back -- or at least well on its way. Standard and Poor's Case-Shiller Index this week revealed that March housing prices were nearly 11% higher than last year's. Several cities, including Los Angeles, had their highest gains in more than seven years. There are bidding wars and all-cash offers. Who are these buyers? What's driving this? Are we at risk for another bubble?
The 'Bling Ring' Comes Full Circle ()
A couple of years ago, the news reported on group of LA teens was breaking into the homes of celebrities like Lindsay Lohan, Orlando Bloom and Paris Hilton and stealing millions of dollars in cash, jewelry and clothes. Last week, Cannes featured the debut of Sofia Coppola's The Bling Ring. Kyle Buchanan, West Coast Bureau Chief for New York magazine, has more on Hollywood imitating life imitating Hollywood.
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation and the Rosalinde and Arthur Gilbert Foundation.
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