October 11, 2009
Britain's Central Planning Death Panels
October 11, 2009
Free Market M.D.
October 11, 2009
Economies of Scale in Compliance
October 11, 2009
Balan's Challenge
October 10, 2009
The Pleasure of Telling Others What to Do
October 10, 2009
Gonick the Great - and How He Could Have Been Greater
October 9, 2009
More Scott Sumner
October 9, 2009
Not From The Onion
October 9, 2009
Thoughts on a Second Stimulus
50% seems a bit large. Remember, location location location. It appears from my observations that people would much rather live in places with a nice climate and great surroundings than in humid flyover country.
Can they afford it? It would depend on how gays would be classified under "median family income", separate or together. If separate, and using medium home sale price, then a gay male homeowner may have a ratio of 12, but would be 6 if his parter, without joint ownership, also made a similar amount of money.
How would they classify 4 single recent college graduates sharing a home? The house would be listed as a single family sale, though there would be for families (of 1 person each) living in it.
It would be interesting to see the statistics if they improved the methodology, but I would guess that "non-traditional" living arraignments would tend to skew the numbers higher, and in San Fran, a lot higher.
The nature of means is that you have to spend roughly the same amount of time beneath them as above them. And the nature of ratios is that when incomes fall, then prices do too if the ratio is to stay steady.
I would not assume that income stats contain consistent biases across regions. In Silicon Valley, for example, if (a different) 2% of the population gets an option/equity windfall each year, then the ratio using median income will be misleading.
Yep. In my neighborhood prices are still rising. Slowly, but still rising.
A lot of retired people live in Miami. They tend to have higher assets to income ratios.
One thing that all these cities have in common is that they are considered *extremely* desirable places to live by large numbers of people.
I suspect that such places can support much higher multiples than random small cities.
What's california's multiple been historically? I don't think the big cities and prime suburb or vacation areas have spent much time under 5-6 in the last 100 years, even though for many places that ratio would indicate a tippy-top market.