“43% Overpriced”

[kewp]

Rustico,

I’ll suggest the amount of rampant speculation (and associated overbuilding) over the last decade has created a unique situation. I should have said ‘new’ construction, though. And I’ll stand by that claim. We have too many houses and way too many condos.

sdrealtor,

Once all the wannabe-speculators dump their properties I have a feeling housing is gonna get affordable fast!

[drunkle]

“None of the above. It is simple statisitcs. Follow the logic it’s not hard.”

huh? logic of what, human behaviour or statistical analysis?

i’m asking about why the statistics are as the are. as in, why only 50-60% of the population own their home, what is the historical average for home ownership, are there any trends apparent, etc…

[drunkle]

“None of the above. It is simple statisitcs. Follow the logic it’s not hard.”

huh? logic of what, human behaviour or statistical analysis?

i’m asking about why the statistics are as the are. as in, why only 50-60% of the population own their home, what is the historical average for home ownership, are there any trends apparent, etc…

[drunkle]

“None of the above. It is simple statisitcs. Follow the logic it’s not hard.”

huh? logic of what, human behaviour or statistical analysis?

i’m asking about why the statistics are as the are. as in, why only 50-60% of the population own their home, what is the historical average for home ownership, are there any trends apparent, etc…

[drunkle]

“None of the above. It is simple statisitcs. Follow the logic it’s not hard.”

huh? logic of what, human behaviour or statistical analysis?

i’m asking about why the statistics are as the are. as in, why only 50-60% of the population own their home, what is the historical average for home ownership, are there any trends apparent, etc…

[drunkle]

“None of the above. It is simple statisitcs. Follow the logic it’s not hard.”

huh? logic of what, human behaviour or statistical analysis?

i’m asking about why the statistics are as the are. as in, why only 50-60% of the population own their home, what is the historical average for home ownership, are there any trends apparent, etc…

[NotCranky]

Kewp,

I did mean to ask you if you could clarify. The post I made, which included that, was lost when the baby unplugged the satellite connection and I forgot to put the question in the new post. So you are saying that this complete stop of new construction condo’s and detached homes hasn’t hasn’t happened but it will? I am sure you don’t mean custom homes and small private developments. Or the project that Radelowe is working on? I can’t really speculate on all the possibilities but I do find a complete stop hard to imagine, even for your new parameters.

[NotCranky]

Kewp,

I did mean to ask you if you could clarify. The post I made, which included that, was lost when the baby unplugged the satellite connection and I forgot to put the question in the new post. So you are saying that this complete stop of new construction condo’s and detached homes hasn’t hasn’t happened but it will? I am sure you don’t mean custom homes and small private developments. Or the project that Radelowe is working on? I can’t really speculate on all the possibilities but I do find a complete stop hard to imagine, even for your new parameters.

[NotCranky]

Kewp,

I did mean to ask you if you could clarify. The post I made, which included that, was lost when the baby unplugged the satellite connection and I forgot to put the question in the new post. So you are saying that this complete stop of new construction condo’s and detached homes hasn’t hasn’t happened but it will? I am sure you don’t mean custom homes and small private developments. Or the project that Radelowe is working on? I can’t really speculate on all the possibilities but I do find a complete stop hard to imagine, even for your new parameters.

[NotCranky]

Kewp,

I did mean to ask you if you could clarify. The post I made, which included that, was lost when the baby unplugged the satellite connection and I forgot to put the question in the new post. So you are saying that this complete stop of new construction condo’s and detached homes hasn’t hasn’t happened but it will? I am sure you don’t mean custom homes and small private developments. Or the project that Radelowe is working on? I can’t really speculate on all the possibilities but I do find a complete stop hard to imagine, even for your new parameters.

[NotCranky]

Kewp,

I did mean to ask you if you could clarify. The post I made, which included that, was lost when the baby unplugged the satellite connection and I forgot to put the question in the new post. So you are saying that this complete stop of new construction condo’s and detached homes hasn’t hasn’t happened but it will? I am sure you don’t mean custom homes and small private developments. Or the project that Radelowe is working on? I can’t really speculate on all the possibilities but I do find a complete stop hard to imagine, even for your new parameters.

[bigmoneysalsa]

sdrealtor, I follow your logic, but there is no way that the 75th percentile is even close to being the right number. That would basically imply that every above-median household owns and every below-median household does not. The 50th percentile is too low and the real number is somewhere between 50 and 75, but exactly where is hard to say.

The more important fact is that historically before this once-in-a-generation economic bubble came along the median home price has been at or slightly above the level that was affordable to a median household. Those above the median could buy a little less and save money to spend on other things; many below the median could stretch a little and buy a medianish home. Incomes do not put a floor on how low prices can go.

[bigmoneysalsa]

sdrealtor, I follow your logic, but there is no way that the 75th percentile is even close to being the right number. That would basically imply that every above-median household owns and every below-median household does not. The 50th percentile is too low and the real number is somewhere between 50 and 75, but exactly where is hard to say.

The more important fact is that historically before this once-in-a-generation economic bubble came along the median home price has been at or slightly above the level that was affordable to a median household. Those above the median could buy a little less and save money to spend on other things; many below the median could stretch a little and buy a medianish home. Incomes do not put a floor on how low prices can go.

[bigmoneysalsa]

sdrealtor, I follow your logic, but there is no way that the 75th percentile is even close to being the right number. That would basically imply that every above-median household owns and every below-median household does not. The 50th percentile is too low and the real number is somewhere between 50 and 75, but exactly where is hard to say.

The more important fact is that historically before this once-in-a-generation economic bubble came along the median home price has been at or slightly above the level that was affordable to a median household. Those above the median could buy a little less and save money to spend on other things; many below the median could stretch a little and buy a medianish home. Incomes do not put a floor on how low prices can go.

[bigmoneysalsa]

sdrealtor, I follow your logic, but there is no way that the 75th percentile is even close to being the right number. That would basically imply that every above-median household owns and every below-median household does not. The 50th percentile is too low and the real number is somewhere between 50 and 75, but exactly where is hard to say.

The more important fact is that historically before this once-in-a-generation economic bubble came along the median home price has been at or slightly above the level that was affordable to a median household. Those above the median could buy a little less and save money to spend on other things; many below the median could stretch a little and buy a medianish home. Incomes do not put a floor on how low prices can go.

[Author]

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