The housing bubble of 2006 burst in large part due to lax lending practices that led up to the housing recession. Let's not forget that lending was not the only issue that let to the housing downturn and one of the worst crisis in American history. Houses were unaffordable in most market and shoukd have never been sold to people. From 2002 to 2006 real estate in Los Angeles was appreciating 15% per year.
As a great real estate agent one should have never sold those inflated home as it was obvious that this was going to lead to being a terrible investment.
If you want to buy and sell real estate correctly in Los Angeles, call 1-877-APPLYFREE
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