According to Nick Vertucci, the lack of the affordable houses in California is reaching the crisis level. The problem is more pronounced at the coast. This includes San Francisco, San Jose, San Diego, and Los Angeles. The cost of a house in these places has increased by 75% for the last 5 years. Currently, an average home in California cost $500000. The price is double the national average cost. Furthermore, the low-income class people have little chance of becoming homeowners in the future. However, many of them are the tax-paying bedrock of California.
Regarding economic activities, California is a booming state. The rate of unemployment is down, and tax revenue is not high. It is one of the states that has the highest per capita income. However, California has been experiencing the highest adjusted poverty rate in the past few years. Nick Vertucci also predicts that there is the need for a serious correction if the previous methods do not give good results.
About Nick Vertucci
Mr. Nick is the Chief Executive Officer and Founder of the Nick Vertucci Group of Companies. He is a full-time real estate investor with expertise in purchasing the properties that are owned by banks. Throughout his career as a real estate professional and investor, Nick has assisted many investors with the rehabbing, purchasing, and renting of banked owned assets. Furthermore, Nick Vertucci has extensive experience and knowledge in property development. He can help clients who are looking forward to home ownership.
Before he settled into the career of becoming a real estate investor, Mr. Nick founded Coastline Micro, a company that he served as its Chief Executive Officer and President. Under the leadership of Mr. Vertucci, Coastline Micro had more than 100 employees, and it was the leading provider of computer systems and solutions to various industries. Besides being a real estate investor, Nick is also professional trainer and mentor. He has been offering professional training to novice real estate investors throughout the United States of America. Nick is the founder of NV Real Estate Academy, an organization, which he founded in 2017. It is through the academy that Vertucci has been training and mentoring people on how to take charge of their financial future.