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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: William JH who wrote (4887)1/13/2004 11:53:20 AM
From: ild   of 110194
 
I'm in Southern Cal too. IMO the wealth effect from inflated RE is the main reason for that "feel good" stuff. Houses have been appreciating like 25-30% a year for the last three years. Every house sold injects about 10% of it's value into local economy (I assume costs of a sale and some limited remodeling). 10% from 700K houses sold in California at $300K would come to $21 Bln.

How much longer can it be this way with affordability index below 20%? Can it last for another year, two?

California RE:
car.org
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