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NotCranky.
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December 12, 2007 at 1:16 PM #11185December 12, 2007 at 1:44 PM #115160
(former)FormerSanDiegan
ParticipantDo you mean a further 43% decline from today or 43% total.
A 43% real decline (accounting for both nominal home price drops and wage and/or rent inflation) would be in line with some folks’ interpretations of Rich’s charts as of 2005.
My guess is that about half of that drop has already occurred.December 12, 2007 at 1:44 PM #115287(former)FormerSanDiegan
ParticipantDo you mean a further 43% decline from today or 43% total.
A 43% real decline (accounting for both nominal home price drops and wage and/or rent inflation) would be in line with some folks’ interpretations of Rich’s charts as of 2005.
My guess is that about half of that drop has already occurred.December 12, 2007 at 1:44 PM #115321(former)FormerSanDiegan
ParticipantDo you mean a further 43% decline from today or 43% total.
A 43% real decline (accounting for both nominal home price drops and wage and/or rent inflation) would be in line with some folks’ interpretations of Rich’s charts as of 2005.
My guess is that about half of that drop has already occurred.December 12, 2007 at 1:44 PM #115329(former)FormerSanDiegan
ParticipantDo you mean a further 43% decline from today or 43% total.
A 43% real decline (accounting for both nominal home price drops and wage and/or rent inflation) would be in line with some folks’ interpretations of Rich’s charts as of 2005.
My guess is that about half of that drop has already occurred.December 12, 2007 at 1:44 PM #115362(former)FormerSanDiegan
ParticipantDo you mean a further 43% decline from today or 43% total.
A 43% real decline (accounting for both nominal home price drops and wage and/or rent inflation) would be in line with some folks’ interpretations of Rich’s charts as of 2005.
My guess is that about half of that drop has already occurred.December 12, 2007 at 2:11 PM #115180kewp
ParticipantUh, I’ll hesitate to say there isn’t any expert analysis here, as no one can predict the future. Even if someone did, in this case, unless they could do it consistently I would not lend their prognostications much weight.
I will ask you if you’ve considered that the SD economy is ~25% real-estate related. Thats something I think many miss; that as sales slow to a crawl and construction stops entirely that the median income is going to drop as well.
December 12, 2007 at 2:11 PM #115309kewp
ParticipantUh, I’ll hesitate to say there isn’t any expert analysis here, as no one can predict the future. Even if someone did, in this case, unless they could do it consistently I would not lend their prognostications much weight.
I will ask you if you’ve considered that the SD economy is ~25% real-estate related. Thats something I think many miss; that as sales slow to a crawl and construction stops entirely that the median income is going to drop as well.
December 12, 2007 at 2:11 PM #115341kewp
ParticipantUh, I’ll hesitate to say there isn’t any expert analysis here, as no one can predict the future. Even if someone did, in this case, unless they could do it consistently I would not lend their prognostications much weight.
I will ask you if you’ve considered that the SD economy is ~25% real-estate related. Thats something I think many miss; that as sales slow to a crawl and construction stops entirely that the median income is going to drop as well.
December 12, 2007 at 2:11 PM #115348kewp
ParticipantUh, I’ll hesitate to say there isn’t any expert analysis here, as no one can predict the future. Even if someone did, in this case, unless they could do it consistently I would not lend their prognostications much weight.
I will ask you if you’ve considered that the SD economy is ~25% real-estate related. Thats something I think many miss; that as sales slow to a crawl and construction stops entirely that the median income is going to drop as well.
December 12, 2007 at 2:11 PM #115382kewp
ParticipantUh, I’ll hesitate to say there isn’t any expert analysis here, as no one can predict the future. Even if someone did, in this case, unless they could do it consistently I would not lend their prognostications much weight.
I will ask you if you’ve considered that the SD economy is ~25% real-estate related. Thats something I think many miss; that as sales slow to a crawl and construction stops entirely that the median income is going to drop as well.
December 12, 2007 at 2:15 PM #115185NeetaT
ParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
December 12, 2007 at 2:15 PM #115312NeetaT
ParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
December 12, 2007 at 2:15 PM #115346NeetaT
ParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
December 12, 2007 at 2:15 PM #115353NeetaT
ParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
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