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(former)FormerSanDiegan
ParticipantQ. What percentage of the Federal Tax Revenues are paid by those who will NOT qualify to receive one of these stimulus checks ?
A. 86 %
Q. So, that’s not really giving peple back there money, is it ?
A. Shut up.
ParticipantI think the agent is correct.
The number of $1M+ homes on the market is declining.
They are becoming $900K homes.ParticipantI think the agent is correct.
The number of $1M+ homes on the market is declining.
They are becoming $900K homes.ParticipantI think the agent is correct.
The number of $1M+ homes on the market is declining.
They are becoming $900K homes.ParticipantI think the agent is correct.
The number of $1M+ homes on the market is declining.
They are becoming $900K homes.ParticipantI think the agent is correct.
The number of $1M+ homes on the market is declining.
They are becoming $900K homes.ParticipantIf you look at Esmith’s blog he shows a distribution of home prices in San Diego.
http://sdhpi.blogspot.com/According to his estimates the $1 Mil mark is about 10-12% of the homes as of April 2008.
As of 2006, Census Bureau shows about 5.25% of San Diego households have income exceeding 200K. At 200K income one would need a sizeable (~25%) down payment to afford a $1 Mil house.
So, the number of households who can afford $1Mil or more must be less than the number of homes valued at 1 Mil +.
I would not make any conclusions or assumptions based on this. At least the number of $1 MIl + homes is only about 2X the number of people who might marginally be able to afford it.
I don’t know whether to or how to account for long-time owners who purchased at much lower levels than today and who (except for their current equity) could not afford to buy their own $1 Mil+ home today.
ParticipantIf you look at Esmith’s blog he shows a distribution of home prices in San Diego.
http://sdhpi.blogspot.com/According to his estimates the $1 Mil mark is about 10-12% of the homes as of April 2008.
As of 2006, Census Bureau shows about 5.25% of San Diego households have income exceeding 200K. At 200K income one would need a sizeable (~25%) down payment to afford a $1 Mil house.
So, the number of households who can afford $1Mil or more must be less than the number of homes valued at 1 Mil +.
I would not make any conclusions or assumptions based on this. At least the number of $1 MIl + homes is only about 2X the number of people who might marginally be able to afford it.
I don’t know whether to or how to account for long-time owners who purchased at much lower levels than today and who (except for their current equity) could not afford to buy their own $1 Mil+ home today.
ParticipantIf you look at Esmith’s blog he shows a distribution of home prices in San Diego.
http://sdhpi.blogspot.com/According to his estimates the $1 Mil mark is about 10-12% of the homes as of April 2008.
As of 2006, Census Bureau shows about 5.25% of San Diego households have income exceeding 200K. At 200K income one would need a sizeable (~25%) down payment to afford a $1 Mil house.
So, the number of households who can afford $1Mil or more must be less than the number of homes valued at 1 Mil +.
I would not make any conclusions or assumptions based on this. At least the number of $1 MIl + homes is only about 2X the number of people who might marginally be able to afford it.
I don’t know whether to or how to account for long-time owners who purchased at much lower levels than today and who (except for their current equity) could not afford to buy their own $1 Mil+ home today.
ParticipantIf you look at Esmith’s blog he shows a distribution of home prices in San Diego.
http://sdhpi.blogspot.com/According to his estimates the $1 Mil mark is about 10-12% of the homes as of April 2008.
As of 2006, Census Bureau shows about 5.25% of San Diego households have income exceeding 200K. At 200K income one would need a sizeable (~25%) down payment to afford a $1 Mil house.
So, the number of households who can afford $1Mil or more must be less than the number of homes valued at 1 Mil +.
I would not make any conclusions or assumptions based on this. At least the number of $1 MIl + homes is only about 2X the number of people who might marginally be able to afford it.
I don’t know whether to or how to account for long-time owners who purchased at much lower levels than today and who (except for their current equity) could not afford to buy their own $1 Mil+ home today.
ParticipantIf you look at Esmith’s blog he shows a distribution of home prices in San Diego.
http://sdhpi.blogspot.com/According to his estimates the $1 Mil mark is about 10-12% of the homes as of April 2008.
As of 2006, Census Bureau shows about 5.25% of San Diego households have income exceeding 200K. At 200K income one would need a sizeable (~25%) down payment to afford a $1 Mil house.
So, the number of households who can afford $1Mil or more must be less than the number of homes valued at 1 Mil +.
I would not make any conclusions or assumptions based on this. At least the number of $1 MIl + homes is only about 2X the number of people who might marginally be able to afford it.
I don’t know whether to or how to account for long-time owners who purchased at much lower levels than today and who (except for their current equity) could not afford to buy their own $1 Mil+ home today.
May 2, 2008 at 9:59 AM in reply to: Causative Role for Non-US Immigrants in Bubble and Pop Land? #197741ParticipantI believe that American Risk-taking is what made this country great. It is both cultural and also possibly genetic, in that most Americans have descended from those who took a risk to leave their homeland in search of something better.
http://economistsview.typepad.com/economistsview/2007/02/risk_taking_cap.html
May 2, 2008 at 9:59 AM in reply to: Causative Role for Non-US Immigrants in Bubble and Pop Land? #197777ParticipantI believe that American Risk-taking is what made this country great. It is both cultural and also possibly genetic, in that most Americans have descended from those who took a risk to leave their homeland in search of something better.
http://economistsview.typepad.com/economistsview/2007/02/risk_taking_cap.html
May 2, 2008 at 9:59 AM in reply to: Causative Role for Non-US Immigrants in Bubble and Pop Land? #197804ParticipantI believe that American Risk-taking is what made this country great. It is both cultural and also possibly genetic, in that most Americans have descended from those who took a risk to leave their homeland in search of something better.
http://economistsview.typepad.com/economistsview/2007/02/risk_taking_cap.html
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