More high-end homes available as sales plummet in California

Guess what? The rich are just like us, at least when it comes to higher mortgage rates and watching Wall Street — and how those affect homebuying decisions. Also, Uncle Sam raises the conforming loan limit to more than $1 million in some California regions and seven cities in the state get props for housing efforts.
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Plus, Fannie Mae will consider rent payments as part of the application process for first-time buyers, affordability plummets to 14-year low, and half of homeowners in Golden State are equity rich.