Monday Open Thread
This is your open thread for today. Please post random links and off-topic discussions here.
Off-topic comment? Interesting link?
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1 comment:
Just for fun:
http://cgi.money.cnn.com/tools/costofliving/costofliving.html
Using this little toy to compare relative housing costs in various cities using an assumed salary of 45k and with Seattle as reference):
LA: +87% (87% more than Seattle)
Denver: -17% (17% less than Seattle)
San Diego: +62%
San Francisco: +133%
Portland: -15%
Austin: -29%
DC Metro: +56%
Yakima: -28%
This includes rentals, so it is not entirely representative of the massive credit problems we face, but even at face value it's a pretty decent indicator that something is amiss. Why is San Francisco *so* much more expensive than, say, Portland? Why is Austin so much cheaper than San Diego?
Now if I had the time and energy to do so, I would try and get monthly house price data for the last 10 years for each location and compare them. I suspect that you would see the runup in house prices start earlier in California, then move outward. Likewise, the crash would start in Cali first, then spread outward.
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