Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (5416)	5/3/2004 12:42:26 AM
From: Hawkmoon	Read Replies (1) of 116555

In California, a middle-class family with two earners each making $50,000 a year now owns, on average, an $830,000 home. In the late 80s, the last time these eight states saw price-to-income ratios this high, the real estate market collapsed. I know.. I've been warning friends about the bubble in the DC-N.VA housing market. I'm afraid of what's going to happen to valuations when rates begin to rise. Some friends of mine back in the early 90's actually suffered through several years of depreciation on the value of their townhome. Hawk

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