Property Values
In August 2005, the median price of an average one family home in the San Fernando Valley reached $600,000. In 1997, it was only $155,000. In the summer of 2003, it reached $400,000 and by July 2005, it reached $578,500. From July to August (one month) 2005, it rose by $100,000. A cooling off was noted in 2006, when between November 2005 and November 2006, median prices rose by the smallest amount of any 12 month period since mid-1997. Indeed, November prices were lower than October prices, and sales for November had fallen 19.1% compared to a year earlier. The United States housing market correction affected the San Fernando Valley in 2007–2009 making housing significantly more affordable in the area, the median sales price fell from $660,000 at the peak in May 2007, to $500,000 by March 2008, stabilizing in 2009 at around $330,000 – $340,000.
Read more about this topic: San Fernando Valley
Famous quotes containing the words property and/or values:
“Personal rights, universally the same, demand a government framed on the ratio of the census: property demands a government framed on the ratio of owners and of owning.”
—Ralph Waldo Emerson (1803–1882)
“Parents ought, through their own behavior and the values by which they live, to provide direction for their children. But they need to rid themselves of the idea that there are surefire methods which, when well applied, will produce certain predictable results. Whatever we do with and for our children ought to flow from our understanding of and our feelings for the particular situation and the relation we wish to exist between us and our child.”
—Bruno Bettelheim (20th century)