Original Message: ----------------- From: pencimen [EMAIL PROTECTED] Date: Mon, 01 Dec 2008 22:05:13 -0000 To: [email protected] Subject: Re: Wal-Mart is evil, why it must be eradicated
"Dan M" wrote: > The housing bubble was partially due to cash with no place to go. But, much > of the excess in housing prices was deliberately caused by homeowners' votes > against affordable housing in places like California. Why do you think that > prices for comparable housing in LA are so much more than Houston or Dallas? >Because (apologies for bluntness and to those who _do_ like the >climate) WTF wants to live in Houston (or Dallas)? I understand that sentiment, and I admit that there are far more enjoyable places to live than Houston. When Teri gets her call, I hope to move to one of them. But, LA isn't much better than Houston or Dallas. Austin is clearly better than LA. Further, the direct comparision that is so critical is _the rise_ in price of real estate in LA vs. Dallas. Since Dallas grew faster over the time period, by your theory, it's prices should rise faster than LA. In the last 7 years, the metro population rose 19.4%. LA went up 4%, and DFW went up 18.6%. Austin and San Antonio, IIRC, have even faster growth. So, California seems to be peaking. I'd guess, when the bubble shakes out, places like Palo Alto will see another factor of 2 drop in price. Dan M. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l -------------------------------------------------------------------- myhosting.com - Premium Microsoft® Windows® and Linux web and application hosting - http://link.myhosting.com/myhosting _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
