[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
Permit me to interject a few observations/empirical data:
1. CA teachers are the highest paid in the US. Yet CA spends slightly less PER STUDENT on education than the median. How does that happen? Huge class sizes.
2. Firefighters are about the most overpaid of all government workers, based attractiveness of the job relative to pay. Applications swamp openings, when there are openings. Also, turnover low. And no, it is not statistically a very dangerous job compared to construction, mining, & many other categories.
3. Mello Roos fees should be largely capitalized into the value of the house, therefore are greatly overrated.

[EconProf]

BobS
gdcox makes a valid point by challenging the income/house price ratio. Since the earlier period had artificially high interest rates, house PAYMENTS were unnaturally high. We all remember that Volcker had to use 15%+ interest rates as a battering ram to wipe out inflation and inflationary psychology. Housing was the collateral damage.
In contrast, the bubble was stimulated by unduly low interest rates for several years under Greenspan.
A better ratio might be income/house payments.

[EconProf]

BobS
gdcox makes a valid point by challenging the income/house price ratio. Since the earlier period had artificially high interest rates, house PAYMENTS were unnaturally high. We all remember that Volcker had to use 15%+ interest rates as a battering ram to wipe out inflation and inflationary psychology. Housing was the collateral damage.
In contrast, the bubble was stimulated by unduly low interest rates for several years under Greenspan.
A better ratio might be income/house payments.

[EconProf]

BobS
gdcox makes a valid point by challenging the income/house price ratio. Since the earlier period had artificially high interest rates, house PAYMENTS were unnaturally high. We all remember that Volcker had to use 15%+ interest rates as a battering ram to wipe out inflation and inflationary psychology. Housing was the collateral damage.
In contrast, the bubble was stimulated by unduly low interest rates for several years under Greenspan.
A better ratio might be income/house payments.

[EconProf]

BobS
gdcox makes a valid point by challenging the income/house price ratio. Since the earlier period had artificially high interest rates, house PAYMENTS were unnaturally high. We all remember that Volcker had to use 15%+ interest rates as a battering ram to wipe out inflation and inflationary psychology. Housing was the collateral damage.
In contrast, the bubble was stimulated by unduly low interest rates for several years under Greenspan.
A better ratio might be income/house payments.

[EconProf]

BobS
gdcox makes a valid point by challenging the income/house price ratio. Since the earlier period had artificially high interest rates, house PAYMENTS were unnaturally high. We all remember that Volcker had to use 15%+ interest rates as a battering ram to wipe out inflation and inflationary psychology. Housing was the collateral damage.
In contrast, the bubble was stimulated by unduly low interest rates for several years under Greenspan.
A better ratio might be income/house payments.

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