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.
Just for fun:
ReplyDeletehttp://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.