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

To: David Jones who wrote (43852)	10/30/2005 12:32:22 PM
From: Whitebeard	Read Replies (4) \| Respond to of 306849

Agreed. I was in my 20's and had just bought my first house in LA in the 70's, and inflation was eating me alive. My parents had loaned me $7800 for the down and had taken out a second to secure the loan. The interest was 9 and a quarter on the primary loan and I felt lucky to get it. Inflation was terrible. I watched food prices go up by two and three cents a week. I esp. remember the price escalating on instant coffee, which I drank in those years. Then my property taxes took off, almost doubling year after year. Prop. 13 helped save my house. It's also why I think Jimmy Carter was the worst president of my lifetime.

To: David Jones who wrote (43852)	10/31/2005 12:12:57 AM
From: Live2Sail	Respond to of 306849

David, Thank you for the link. Something doesn't make sense to me. The latest release from the NAR says: "Closed escrow sales of existing, single-family detached homes in California totaled 650,780 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 3.9 percent from the 626,210 sales pace recorded in September 2004. If the NAR counts 2M single family detached homes, then the turnover for the last year is more than 33%, not 6.5% . The NAR says they use RFS data for turnover count, but they publish the above quote. In addition, this 6.5% number appears to account for only single-family detached homes. Those are not the only property owners protected under 13. Color me confused. L2S