[lbo-talk] housing bubble?

Leigh Meyers leigh_m at sbcglobal.net
Sat Jan 29 20:02:35 PST 2005


Joanna wrote

How come, when my dad bought a house in the middle of LA in 1971, for $26,000, it represented about 1.5 times his salary as a unionized billing clerk (Teamsters); but, if I wanted to by a comparable house in the bay area today at about 500,000, I would be paying five times my annual salary as a bleeding edge/hi tech/ tech writer?

Genuinely curious,

Joanna

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Perhaps the purchasing power of the dollar is that much less than 1971?

L

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