So Long, and Thanks for all the Burgers

[chequita guevara]

I wanna go.

[Lancer]

Che, I'll make lots noise before we go, and you're invited so just chime in and we'll happily keep a room open for you.

[chequita guevara]

Aren't you only supposed to bring marriagable young men so that all the Filipinas can move their families to America?

[chequita guevara]

How'd you end up in the Phils in the first place?

[Theben]

He snores louder than I do. You were warned.

[Lancer]

Che, I got sick of western women and went looking for a real lady. Not that there aren't real ladies here, but they're all married or hiding or something.

Theben, that's not possible. He would blow a lung if that were the case. )

[mrmitchell]

$200k does sound pretty nice

Jesus. My folks' three bedroom, fairly big yard, in the city, all that cost $90,000.

I know some of it has to do with income being higher in CA, but you can just look at the data and see that something is screwed up with CA houses:

zip code 71701 median household income $29660

Estimate of home value of owner-occupied houses in 2000 in zip code 71701:


Less than $10,000: 161
$10,000 to $14,999: 132
$15,000 to $19,999: 201
$20,000 to $24,999: 210
$25,000 to $29,999: 223
$30,000 to $34,999: 369
$35,000 to $39,999: 338
$40,000 to $49,999: 538
$50,000 to $59,999: 473
$60,000 to $69,999: 479
$70,000 to $79,999: 439
$80,000 to $89,999: 350
$90,000 to $99,999: 208
$100,000 to $124,999: 139
$125,000 to $149,999: 148
$150,000 to $174,999: 86
$175,000 to $199,999: 55
$200,000 to $249,999: 56
$250,000 to $299,999: 47
$300,000 to $399,999: 0
$400,000 to $499,999: 6
$500,000 to $749,999: 0
$750,000 to $999,999: 0
$1,000,000 or more: 0

zip code 92117 (any random one for or around San Diego) median household income $47245

Estimate of home value of owner-occupied houses in 2000 in zip code 92117:


Less than $10,000: 0
$10,000 to $14,999: 0
$15,000 to $19,999: 7
$20,000 to $24,999: 14
$25,000 to $29,999: 5
$30,000 to $34,999: 8
$35,000 to $39,999: 9
$40,000 to $49,999: 13
$50,000 to $59,999: 8
$60,000 to $69,999: 0
$70,000 to $79,999: 0
$80,000 to $89,999: 32
$90,000 to $99,999: 44
$100,000 to $124,999: 201
$125,000 to $149,999: 343
$150,000 to $174,999: 1023
$175,000 to $199,999: 2076
$200,000 to $249,999: 3812
$250,000 to $299,999: 1758
$300,000 to $399,999: 1094
$400,000 to $499,999: 435
$500,000 to $749,999: 164
$750,000 to $999,999: 12
$1,000,000 or more: 30

That is not sustainable. When do the experts say the bubble will pop?

[Imran Siddiqui]

Of course it's sustainable! People actually want to live in California, unlike Arkansas.

[Zkribbler]

Bubbbles in residential real estate tend not to "pop" because it is an illiquid investment. Unlike stocks, people can panic and rush to sell. They have to live somewhere, so they "ride" the decline down.

So when this market is overheated (which I think it is now), the correction comes in the form of a flattening or a slow decline in market value.

[Drogue]

That's not sustainable? Have at look at the UK. Our average house price is close to $300,000, and if you look at a city or some southerly region, you'd be talking a lot higher. My parents house is nothing of the extravagance that Kuci's seems, but it's worth ~$600,000.

[Dinner]

http://www.signonsandiego.com/uniontrib/20050424/news_1h24calhomes.html

Prices are still surging in the state but the rate of increase has slowed down a bit. Over all the state wide average home price is now $421,000 as of the end of April which is up from $407,000 at the end of February. That's a 3.4% rise in two months with the over all rise from March 2004 to March 2005 of 19.3%.

I've never been so happy to be a home owner.

[DeathByTheSword]

Originally posted by Zkribbler
Bubbbles in residential real estate tend not to "pop" because it is an illiquid investment. Unlike stocks, people can panic and rush to sell. They have to live somewhere, so they "ride" the decline down.

So when this market is overheated (which I think it is now), the correction comes in the form of a flattening or a slow decline in market value.

the only problem with it is that people take a big second morgage with the price is to high and then have problems with paying it back...right?(or something like that)

[Dinner]

They certainly must devote more of their income to housing expenses.

[Dinner]

There does seem to be a bubble in some areas. People are fleeing the coast in an attempt to find affordable housing and prices are rocketing up. In Riverside County (east of Orange County for you Chopper Fans ) prices went up 26.3% in the last year. My sister and her family own a house there and everyone has made around $100k in the last year. Mean while in San Bernardino County (east of LA) prices rose an amazing 34.8% in the last year.

The prices rises are being caused by two main factors 1) the rising population due to both immigration and natural population growth 2) the over all economy is pretty good and everyone seems to want to buy now before interest rates go up.

[Zkribbler]

Originally posted by Oerdin
The prices rises are being caused by two main factors 1) the rising population due to both immigration and natural population growth 2) the over all economy is pretty good and everyone seems to want to buy now before interest rates go up.

And because a bunch of people see the prices going up so fast and want to get in on a rising market. They're jumping aboard the ol' Zkribbler investment strategy: buy high, sell low.