On the West Coast the housing market is very active and as a result, those who want to buy a house, are forced to shed a lot more money even if the property is not luxurious or modern. Kenny Slaught references Standard & Poor’s Case-Shiller home price index and says that the prices for housing became steadily higher since 2008. In Los Angeles, the cost for a house reached a peak level in April and closes in on the level prior to the recession. Of course, there are several reasons for the current situation, and Slaught develops on them. The interest rate is one of them and it was maintained between 3.31% (the all-time low, reached in November 2012) and 3.5%, for a 30-year mortgage. This looked very enticing to many buyers. Another reason was the increased number of people finding employment, at a very fast rate. For instance, in Los Angeles County, 2.4% more people found a job, while in Orange County, 3.5% more people landed a job. While those factors are good, the demand for a new house increased, but the market can’t fulfill it, as the supply is low. All this means that the higher-end homes have a very inflated asking price, second only to Hawaii, even if throughout California the home price varies greatly. There’s only one solution for those seeking a new home: choosing a condominium simply because it is more affordable.