Wednesday, August 29, 2007

California home prices

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There are many blogs out there devoted to the housing bubble. I have peeked in on some over the years; this one is really good: Dr Housing Bubble

I want to highlight this page specifically - on it you can see 10 of the cheaper homes (with pictures) in the area - most go for 200K-$300K or so. In most parts of the country these homes would fetch $25-50K. (if that) Its a quick and easy representative sample of what is going on out there.

Aside from entertainment value, the blog author makes valid points about rental rates. The main issue aside from lack of affordability of these homes for people with 'normal' mortgages is they make no sense in relation to rental rates in the same areas.

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