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

To: Lizzie Tudor who wrote (69326)	12/24/2006 6:19:27 PM
From: Wyätt Gwyön	Read Replies (4) \| Respond to of 306849

There are no jobs in Austin. People make, literally, 1/3 as much as they do here. LOL, no they don't. they make like 8K less. Austin median income $62,074, compared to 70K in SJ. internest.com and there are jobs here. companies can pay their people a little less than they pay in Clownifornia, but the people can buy much more house. that's why Austin housing market and job market are still strong, whereas Bay Area is collapsing. Houses should be 3x as much here, and they are. no, they should be 15% more based on salary alone. the rest has to do with other factors, the main one being a housing bubble.

To: Lizzie Tudor who wrote (69326)	12/24/2006 6:23:43 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

You cannot apply Austin real estate values to the market here. i didn't say to apply Austin values. i used the word "longitudinal"--that means compare the Bay Area today to the Bay Area in the past. on that basis it's a bubble. of course if you compare to other areas of the country it's even more of a bubble, which is why companies are now staying away in droves. all that has happened is those people that stuck to those "rules" ended up losing out on great opportunities. that is the typical attitude one finds in CA. it is like people who bought Cisco at 5 telling everybody about the great opportunities they missed when Cisco is at 82...right before it begins a plummet to 8 and loses more market cap dollars than any company in history. California real estate today is like Cisco at 82.