Tuesday, January 24, 2006

One in 13 California Homes Sold for More Than $1 Million in 2005

Bloomberg.com: U.S.

Doesn't surprise me, really. Isn't it obscene?

And, if you were to run the figures on Southern California itself, it would be that much more obscene.

Note that it is a fact that the average annual income in California is not adequate to cover the average annual housing costs here. This is interesting, but scary, economics. Basically, the math does not compute. What does this mean for our future?

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