[lbo-talk] Housing bubble? Sure!

snitsnat snitilicious at tampabay.rr.com
Wed May 18 00:30:53 PDT 2005


At 03:02 AM 5/18/2005, joanna wrote:
>Funny thing that housing bubble. Went for a walk around the block today. I
>live in a kind of gray area of Oakland -- the hood begins about four
>blocks south of my apt bulding; my immediate area has become the staging
>ground for east asian immigration: they all buy houses, pave the yard,
>fence the property and work 20 hours a day; another half mile north,
>respectability starts.
>
>So, I'm walking around the block and I notice a house for sale. There's a
>poster with info stuck to the front lawn. It's a kind of good sized wood
>slatted dog house -- 3 bedrooms 1 bath, no charm, no facade, crappy paint,
>a few square feet of back yard, no front yard, the kitchen looks like a
>train corridor. Asking price is $499,000.00 As Is. That's half a mil,
>folks. The headline in today's Oakland Tribune is "The Advantages of
>Interest-Only Loans."
>
>Housing Bubble? What Housing Bubble?

And soytin peeps think that a median salary of $66k is not really quite prole in San Fran. Feh.

k



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