Is 25 – 30% off a good deal?

[SHILOH]

esmith…can you clarify this comment:
Incomes are up 30-40%

I mean, provide a source or the data.

[(former)FormerSanDiegan]

According to SANDAG, the median household income in nominal dollars in San Diego has gone from 45,826 in 2000 to $63,093 in 2006. That’s 37%.

http://www.sandag.org/resources/demographics_and_other_data/demographics/fastfacts/sand.htm

According to the U-T article on Wed, the median household income experienced a 6.9% increase from 2006 to 2007.
($64.9 k to $69.4k)

http://www.signonsandiego.com/uniontrib/20071128/news_1b28housing.html

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

[(former)FormerSanDiegan]

According to SANDAG, the median household income in nominal dollars in San Diego has gone from 45,826 in 2000 to $63,093 in 2006. That’s 37%.

http://www.sandag.org/resources/demographics_and_other_data/demographics/fastfacts/sand.htm

According to the U-T article on Wed, the median household income experienced a 6.9% increase from 2006 to 2007.
($64.9 k to $69.4k)

http://www.signonsandiego.com/uniontrib/20071128/news_1b28housing.html

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

[(former)FormerSanDiegan]

According to SANDAG, the median household income in nominal dollars in San Diego has gone from 45,826 in 2000 to $63,093 in 2006. That’s 37%.

http://www.sandag.org/resources/demographics_and_other_data/demographics/fastfacts/sand.htm

According to the U-T article on Wed, the median household income experienced a 6.9% increase from 2006 to 2007.
($64.9 k to $69.4k)

http://www.signonsandiego.com/uniontrib/20071128/news_1b28housing.html

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

[(former)FormerSanDiegan]

According to SANDAG, the median household income in nominal dollars in San Diego has gone from 45,826 in 2000 to $63,093 in 2006. That’s 37%.

http://www.sandag.org/resources/demographics_and_other_data/demographics/fastfacts/sand.htm

According to the U-T article on Wed, the median household income experienced a 6.9% increase from 2006 to 2007.
($64.9 k to $69.4k)

http://www.signonsandiego.com/uniontrib/20071128/news_1b28housing.html

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

[(former)FormerSanDiegan]

According to SANDAG, the median household income in nominal dollars in San Diego has gone from 45,826 in 2000 to $63,093 in 2006. That’s 37%.

http://www.sandag.org/resources/demographics_and_other_data/demographics/fastfacts/sand.htm

According to the U-T article on Wed, the median household income experienced a 6.9% increase from 2006 to 2007.
($64.9 k to $69.4k)

http://www.signonsandiego.com/uniontrib/20071128/news_1b28housing.html

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

[kewp]

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

Remember you need to subtract:

A. Real-estate related job losses.

B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.

Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.

[kewp]

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

Remember you need to subtract:

A. Real-estate related job losses.

B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.

Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.

[kewp]

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

Remember you need to subtract:

A. Real-estate related job losses.

B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.

Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.

[kewp]

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

Remember you need to subtract:

A. Real-estate related job losses.

B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.

Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.

[kewp]

I guess the real question is whether we can expect 2001 prices at 2011 wages. I would bet not. With inflation and devalued dollar, I would not be surprised if median household income in 2011 is double that from 1995. That’s an increase of about 4.5% per year.

Remember you need to subtract:

A. Real-estate related job losses.

B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.

Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.

[Eugene]

From census.gov

Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099

That’s 29%. 1997-2007 difference will be bigger.

http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196

[Eugene]

From census.gov

Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099

That’s 29%. 1997-2007 difference will be bigger.

http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196

[Eugene]

From census.gov

Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099

That’s 29%. 1997-2007 difference will be bigger.

http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196

[Eugene]

From census.gov

Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099

That’s 29%. 1997-2007 difference will be bigger.

http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196

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