Do you think housing prices are STILL going down in California? (Palmdale: transplants, for rent)

[Radical Raul]

Originally Posted by squeezeboxgal

According to the Census Bureau, California's median income is more than $70,000 for 2008.

Those are 4 member households which usually reflects at least two incomes.

Also notice the median income in Colorado is nearly identical, yet their housing costs are nearly half of that as in Southern California.


http://www.catholiccharitiesusa.org/....aspx?pid=1149

[Dark of the Moon]

Originally Posted by Radical Raul

Those are 4 member households which usually reflects at least two incomes.

Also notice the median income in Colorado is nearly identical, yet their housing costs are nearly half of that in Southern California.


Catholic Charities USA - Campaign to Reduce Poverty in America: Facts

You didn't specify how many household members in your comment on median income. Also, in the link you posted, please note that California and Colorado have almost identical numbers.

[EscapeCalifornia]

Originally Posted by squeezeboxgal

According to the Census Bureau, California's median income is more than $70,000 for 2008.

Per capita income can be $30k while household income can be $70k.

[Dark of the Moon]

Originally Posted by EscapeCalifornia

Per capita income can be $30k while household income can be $70k.

Absolutely, but the $30,000 was cited as the "median income" for the state of California.

[EscapeCalifornia]

Originally Posted by GracieJJ

WOW, what part of the neighborhood barely makes over 30k? lots of professionals where we live and they make nothing less than 80k...

$30k is $15 bucks an hour. Lots of people don't even make that much.

[EscapeCalifornia]

Originally Posted by squeezeboxgal

Absolutely, but the $30,000 was cited as the "median income" for the state of California.

Well "median what"? He didn't specify. Median personal income being $30k is very believable. Not that I or anyone else should expect an average single wage earner to be able to buy a house in LA.

[Dark of the Moon]

Originally Posted by EscapeCalifornia

Well "median what"? He didn't specify. Median personal income being $30k is very believable.

You are, of course, correct. So feel free to check it for yourself at the Census Bureau website.

[Radical Raul]

I'm a single person.

The key is the lack of affordable housing, and the insane, unsustainable hyper appreciation of home values which occurred during the last housing boom (actually it was a ponzi scheme), and how it has effected the average worker.

It's good to see some are taking a hard look at the actual numbers.

All the best,

[Radical Raul]

Originally Posted by GracieJJ

WOW, what part of the neighborhood barely makes over 30k? lots of professionals where we live and they make nothing less than 80k...

Depends where you live. How is the foreclosure rate in your neighborhood?

[JTGJR]

Originally Posted by squeezeboxgal

Absolutely, but the $30,000 was cited as the "median income" for the state of California.

Realize folks, median is a long way from "average." Half the households earn more and half earn less.