California
In reply to the discussion: VOTE NO ON PROP 10, OR I COULD BE HOMELESS.... not kidding [View all]still_one
(98,883 posts)tough one David, and I am definitely going to have to do a lot more analysis on this
I think part of the problem with housing prices is foreign investment, at least in the bay area. Though I don't rent, I believe there is a shortage in the rental market, and from what I have observed a lot of people commute in from Tracy, Stockton, Lodi areas into the SF Bay area.
Unless one got in a long time ago, or you made a killing in the market, it takes at least a two incomce family to afford a House.
In the South Bay near the new apple campus, a two bedroom apartment in Cupertino goes for around 4K a month.
I have no idea what it would take to bring housing prices down, and precipitate a housing crash, because unfortunately I think that is the only thing that would do it. If that happened a lot of people would lose their homes
Anyway, appreciate your input
I have a lot more homework to do obviously
Thanks