Rentals: the future of California real estate?

California’s homeownership rate at the end of 2013 was 54.3%, down slightly from 54.5% in 2012. Homeownership was at its highest in 2006, at 60.7%. Since then, it has quickly decreased. California homeownership will drop to 53% by 2016 and remain at that level for about a decade as interest rates rise.

The state’s rental vacancy rate decreased from 5.2% in 2012 to 5% in 2013. 

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