Quote of the Day

Posted June 29, 2006

This one caught my eye from Market for Home Sales Slows


Quote:

‘Many in California have reached the dream of living in a million-dollar home without moving,’ said Appleton-Young [Chief Economist of the California Association of Realtors].

What do I know - I am not a professional economist … this must be some recent “innovation” in economics.

2 Comments so far

  1. zoli on January 23rd, 2007

    We’re getting close to the point where in California you can NOT live in anything but a million-dollar home … and that’s not an indication of our wealt :-(

  2. svembu on January 23rd, 2007

    Taking out a mortgage at these prices in California is debt slavery. Japanese home “owners” who bought circa 1990 would know what that feels like.

    Sridhar

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