@Account Closed
That's not YOY, it's from the 2nd quarter of 2015. You really need to stop comparing the 2 markets. It's comparing apples to oranges. Yes, California is a better appreciating market. It always has been and it better be for Pete sake! It's the 6th largest economy in the world. The problem with California is, is that it is to expensive to buy and probably rent, I'm talking on a homeowner/renter perspective not an investor, when it gets like that people and business's start to leave and look for more affordable places, such as Indy or the Midwest.
Here is my comparison:
California is like Google stock, a great stock to invest in, you are going to make money but you have to deal with the dramatic ups and downs. Which means you have to deal with it when the market changes and you know very well Bob most people/investors get scared and run or sell during bad times. (The sky is falling mentality) For those who hang on, like you Bob, will reap the benefits of holding on.
Whereas Indy is like a blue chip stock, such as Coke Cola or Pepsico, it will pay you dividends but will not have all the ups and downs. Why, because in good or bad times people will always buy Coke or Pepsi. (People eventually will move to places that are more affordable for them)
One more thing, since you are a certified appraiser, I believe you said you were in another post. If I'm wrong then I apologize, then you should know that Real Estate is local, not national, regional, or by state. So what happens in Califomia will be different then Indy. Neither place is a bad place to invest. It's how investors buy in these areas that will make or break them.
