Deliver Your News to the World

Job Loss and the Southern California Housing Crisis: “Houses for Cash California”

A closer look at the correlation between the declining job market and the amount of foreclosures in Southern California

Laguna Beach – WEBWIRE
Abed Asghar, CEO and Founder of Abed Buys Houses
Abed Asghar, CEO and Founder of Abed Buys Houses

Many California students will walk across their college graduation stage in hopes of chasing the all-too-familiar, American dream. Complete a degree, secure a top-dollar position, marry the right person, and purchase their first home, all within 5 years. While each part of this equation is a heafty task in and of itself, there are two factors that will likely come as a challenge: Job security and home ownership.
The California job market has been growing steadily for the last 6 years, that is, until it slowed to snail’s pace in May of 2016. “When the job market isn’t growing, there are less opportunities for recent grads, which results in a decline in the housing market,” says Abed Asghar, a real estate expert from Abed Buys Houses. With California’s current job market growing slower than the national average, with over twenty thousand jobs lost since May of this year alone.
“This problem is not unique to the college educated,” warns Asghar. While it may be stalling some from pursuing their lucrative career of choice, it is resulting in thousands more losing their homes. “As more and more jobs are slashed from payrolls all over the state, the working-class Californians are having a hard time making their mortgage payments, resulting ultimately, in foreclosure.”

Abed says the amount of pre-foreclosures that come across his desk has nearly tripled this year. “The bulk of the cases I see are new owners who enter default in less than 1 year of purchasing a home. Its unlike anything we’ve seen in the last decade.”
Fortunately, there are options for those at risk of losing their homes. “For the majority of the homeowners I speak with, we recommend selling their home, renting, and saving money until the economy improves. This allows them to get a handle on their finances, and avoid bankruptcy,” says Asghar.

Having saved over one thousand homes since opening its doors in 2014, Abed Buys Houses pays cash for California homes, and helps the previous owners locate affordable living. “We help people regardless of their situation. Whether they wish to sell due to foreclosure, divorce, or death, we do whatever we can to give homeowners peace of mind.”

If you or someone you know is at risk of pre-foreclosure/foreclosure, visit or call (949) 436 - 0650 

( Press Release Image: )


 we buy houses california
 we buy houses LA
 sell my house cash
 sell my house california
 sell my house san diego

This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.