Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (37633)	9/1/2003 6:22:32 AM
From: Maurice Winn	Read Replies (1) of 74559

<When the recent college graduate looks at housing cost in any desirable area of the U.S. and compares his ability to own a residence to that of a graduate from 1973, he knows that he is not better off. > Ray, it's not surprising, given population growth and increase in the number of people with a bit of money, that La Jolla isn't the sleepy hick town it once was and Malibu is priced out of the reach of most, Rancho Santa Fe is for the smart set and Beverley Hills has been vacated by the Clampetts. Plus, there has been a housing boom. Give it three or 4 years and housing will be more affordable, though interest rates should go up again, so by affordable, I mean for people who actually buy their house instead of borrowing it via the bank. Mqurice

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