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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (30785)	5/5/2005 7:56:00 PM
From: The Wharf	Read Replies (1) \| Respond to of 306849

Yes I live in LA and it is just terrible expensive here. Sometimes I have to pinch myself as I actually am unable to tie income to property price and I find myself thinking 6m a decent home is a bargain. I can't use stats as they are coming out at median average wage of 19.70 I can 't attribute it to two working members of a family they do not make enough. I cant see how at some point this bubble which is world wide isn't going to have an affect on all of us. In Uk and AU they are feeling the result of too easy credit. This is not like the Bubble we had here before as there was not the many options in lending to the same degree as there are now. Banks can work things out when have you a small amount of foreclosures so sales are silent but I honestly feel if they raise rates too much you are going to see all hell break loose for sure in five years.