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Old 05-30-2003, 07:49 AM   #21
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I'm not sure that high house prices necessarily mean the population has a high average income. London has horrendously high house prices (most parts of London you couldn't buy a house for under 200,000) but there are a large number of people in London working minimum wage jobs. They just have no change of ever purchasing a home there so many move away, which in turn leads to a shortage of teachers, nurses and other relatively low-paid workers.
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Old 05-30-2003, 09:49 AM   #22
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Originally posted by deep
Statewide, the 10 cities and communities with the highest median home prices in California during April 2003 were: Manhattan Beach ($1.1 million); Malibu ($1.1 million); Beverly Hills ($1.03 million); Laguna Beach ($925,000); Palos Verdes Estates ($856,775); Newport Beach ($816,250); Orinda ($808,500); Moraga ($767,750); Coronado ($750,000); La Canada-Flintridge ($736,500).
And this is not for big view homes either. You can easily pay $700K+ for a small, 3 bedroom home built in the '50s.

At this rate, we won't be able to afford the rent in this area - buying a home is near impossible.
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Old 05-30-2003, 11:42 AM   #23
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400 grand for 1400 square feet over here.
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Old 05-30-2003, 11:51 AM   #24
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Deflation is probably inevitable with home prices like those.

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Old 05-30-2003, 11:56 AM   #25
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You would think, but if prices begin to flatten out or fall, people simply stop selling their homes. I'd love to see a little deflation is this area.
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Old 05-30-2003, 02:06 PM   #26
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Quote:
Originally posted by Scarletwine
Thanks for the read.

This article is a great summary of everything that is wrong with this administrations priorities. Never has a payback for corporate funding been so blazen. It's a disgrace.


dont' forget the fact thatif Ceo's could add and subract and balance a balance sheet properly...investor confidence would be a lot higher. And I firmly believe that Enron which had VERY close ties to this administration ...was shielded by this administration until it all just absolutely collapsed.


in a lot of ways the people benefitting from this tax cut are partially responsible for the severity of the economic slump
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Old 06-01-2003, 07:23 PM   #27
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Well, being single, the only thing I can hope for is my company lifting the wage freeze and I can get a raise this year? Maybe..
Third term for Clinton is looking better & better...
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