I read this article the other day and thought it was crap.
How do they figure that home values are below historical income ratios? I thought the median income today is on par with 2001 levels. And home prices in LA are far and beyond 2001 levels right now.
Maybe I don’t understand the data. I don’t know how the median house price in the LA area is $250K. Show me a detached house for $250K in the LA area, and I’ll show you an area I would not want to live in.
Maybe I misunderstood the article and it spoke of the homes that are actually selling. Which are the low priced crap shacks. So the super junkers are a great value now. That’s nice.
