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To: goldsheet who wrote (91269)	11/17/2002 9:09:56 PM
From: Bill Jackson	Read Replies (2) \| Respond to of 116753

Bob, Kiss $500 gold goodbye if the Russians become large producers of gold. Bill

To: goldsheet who wrote (91269)	12/29/2002 10:38:01 AM
From: long-gone	Read Replies (1) \| Respond to of 116753

Bob, Is this true, inflationary, top? San Diego median home price increase one of highest in the state Thu Dec 26, 5:52 PM ET While San Diego's reputation for fun in the sun is making it one of the most sought-after housing markets in the country, another jump in the median housing prices may become too much for most locals to bear, according to real estate experts. Median prices for existing houses throughout California jumped 21.5 percent to $328,310, with San Diego as one of the leaders of the pack for highest jumps, a 26.8 percent increase to $378,040 in November 2002 compared to prices one year ago, according to a report released by the California Association of Realtors (CAR). The increase in the median price for existing housing is being effected by a shortage of supply, said Dave Gatzke, vice president of the Corky McMillin Cos. According to industry specialists, one main reason for the lack of housing supply coming on to the market is the shortage of land zoned for construction of new housing. "The land isn't out there," Gatzke said. "Entitled land that's got the government approval is scarce and it's driving up prices." That has been a serious concern to homebuilders in California. Local and regional governments have kept a stranglehold on land permitted for construction, along with stringent and costly permitting fees and regulations, said Paul Tryon, executive vice president for the San Diego chapter of the Building Industry Association. Although San Diego is bordered by the Pacific Ocean, Mexico and Camp Pendleton and has a finite amount of land available, a land shortage does not truly exist, according to Tryon. Close to 50 percent of the land in San Diego County is owned by some kind of government entity. Close to 25 percent of the remaining land is designated as recreational space. Therefore, infrastructure, public works, business and housing must all fit into 25 percent of the land in the county, with only 8 percent of the county land used for housing, Tryon said. Because of the low supply home sellers are asking higher selling prices. Meanwhile, the median housing cost nationally is approximately $157,700, said Fred Schnaubelt, real estate broker and former San Diego City Councilman. According to Gatzke, a 20 percent annual increase is what local homebuilders see as a consistent rise(cont) story.news.yahoo.com