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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (228234)	4/8/2005 1:22:09 AM
From: tejek	Respond to of 1573924

Ted, However, S. CA is one those markets where bubble like conditions do seem to exist. It sure seems that way based on the exorbitant prices alone. However, the rental occupancy rates suggest that demand for residencies are still sky high here. That would be great if the rentals paid for the monthly expenses but in many cases, the rents have not kept up with the escalating housing prices. Many owners of spec houses are upside down. That's the danger of a bubble. One false move and things fall apart quickly. I saw it happen in S. CA in the early ninties. It was not pretty. Plus around where I live, the percentage of single family residences that are being rented out is lower than 25%, much less the 40% figure that Impristine originally mentioned (before he corrected himself). Probably so.......conditions typically are better in OC. Nonetheless, there is speculation there as well. If there is a downturn, OC will not go unscathed. However, you will be okay in a downturn if you keep your job and you don't want to sell. Meanwhile, there are a lot of new apartment complexes being built in Irvine and the surrounding areas. That's an area where rent for a one-bedroom apartment is close to $1,700/month! Can't imagine why that many people would want to spend that much for a dinky apartment in Irvine, but that's reality. That's bizarre. I had not realized that rents had gone up that much. I knew there was a serious shortage of rental units in S. CA but I had not realized it was that bad. ted