Price-Rent Ratio: USA and San Diego
Submitted by
CalculatedRisk on Mon, 03/28/2005 - 12:19am (7 comments)
Shopping at Amazon?
Wait! If you click on the Amazon banner link at the top of the page first, HCN will get a percentage of anything you purchase for 24 hours!
Open predictions
Our local book authors
User login
Who's online
There are currently 5 members and 140 guests online.
Currently online
Recent Recommendations
Aren't we supposed to be fixing SS?
NYT called Bush "impish" today. Gads. He is a veritable poltergeist.
San Diego is kind of a special market right now since at this point, we're close to built out. In Poway where I live, there are no major new home construction projects since our build out is capped at 50,000 population. The only major construction projects close to us are along the 56 corridor or in Scripps Ranch, and they are HUGE houses.
Our prices should start leveling - people are moving out and we are now into net population loss. It's just too expensive to live here - 70% of our population cannot even afford to buy a new house - we could currently barely afford to buy our own house. We could sell today and clear $300,000 on our dinky 1344 sq ft house.
Just moved my sister-in-law and her husband to Tucson - they sold here for $440,000 and bought a house twice as large in Tucson for $207,000.
donna: I suppose I make a good engineer's salary, nevertheless at my "comfort level" I cannot afford any house worthy of my consideration in these parts ... maybe I'm too low in the income pyramid really. 1344 sqft? I could perhaps get something below 1000 sqft, plus termites or ants. Unless I assume myself and my spouse stay gainfully employed for 30 years, with COLA raises ...
how weird, huh?
Yahoo! Sports - Sports News, Scores, Rumors, Fantasy Games, and more
ambien cr online ambien cr online ambien cr online // integrated insurance services integrated insurance services integrated insurance services
Pointed to by Krugman today:
Bubble blindness - Paul Krugman Blog - NYTimes.com
"... The big mystery is the failure to see the housing bubble. The data screamed bubble, even in real time."
[real time] linked to this thread.
Seventh!
Wow, I can't believe there was a time when CR only got 7 comments. And I note that only 4 of them were made around the time this was first posted. This blog has come a long, long way. Great job.
Bill