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View Diary: Bubbles Greenspan - good news on the housing front (74 comments)

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  •  I won't cry when the bubble bursts (4.00)
    The median house price in my county in California is 1 million dollars. That's only funny when you read it in an Austin Powers voice.

    My odds of buying a house are smaller than my odds of being selected Pope. And I'm not Catholic.

    •  How the bubble trickles down into ... (none)
      ...the rest of economy might make you cry, but I hear you.

      My wife and I were in our 40s when we bought our first-ever house in Northwest Los Angeles just after the crest of the last boom, when prices had been dropping for about a year but nobody yet considered it a bust. We thought that we had better get in before the prices - which seemed to us outrageous at the time - started their inexorable rise again.

      Our mortgage checks paid for air over the next seven years as the prices for 1500 sq. foot houses in our neighorhood went from the $220,000 we signed up for to $200,000, $190,000 and eventually $137,000. Now, 14 years after we bought it, our house is "worth" $750,000 according to the last comparative sale. If we were ready to retire and head out to an island paradise for our twilight years, that would be a pretty good deal. But we're not moving, so it's all paper money anyway.


      Writing dialog George Lucas so terrible at is. --Yoda

      Visit The Next Hurrah

      by Meteor Blades on Thu Jun 02, 2005 at 10:10:51 AM PDT

      [ Parent ]

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