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

To: Whitebeard who wrote (43874)	10/30/2005 6:06:07 PM
From: Wharf Rat	Respond to of 306849

SF Peninsula.

To: Whitebeard who wrote (43874)	10/30/2005 10:53:33 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

Maybe it was cheaper in your area in the 70's than LA Nope. He is referring to SF bay area, more expensive than LA. t wasn't that people didn't want to buy houses. They couldn't qualify. Owning a house was beyond you because of the interest rates. Wow. What a sad story. Not as bad as a 50s 3br 2ba rancher going for 1.25 mil, when the average salary is maybe 40% higher than it was 20 years ago.... but still sad, nonetheless.

To: Whitebeard who wrote (43874)	10/31/2005 2:22:18 PM
From: John Vosilla	Respond to of 306849

"You gotta remember the times. In '73 you could buy gas for 35, 40 cents a gallon. Then the gas crisis hit. Along with out of control increases in the property taxes, food, etc. Accelerating inflation was everywhere The mood and the reality just got more negative. The 70's were lean times for the middle-class in LA. Mortgages continued to rise, hit 17, 18% in the early eighties" Sounds in many ways like today except wages and interest rates are held way down in our new competitive global economy.. Imagine how few could afford a home today at interest rates only 5 or 10 years ago in bubble markets like CA.. Then imagine qualifying at 1980-81 rates<g>.. GRM's today at 40 sound similar to Cisco at 120 PE in March 2000..