Sunday, November 03, 2002
A good omen on the horizon: I've been searching for a condo here in San Diego and there isn't much out there for someone who works at a newspaper. A second income would certainly help, but I have yet to find a woman willing to tie the knot.
Today's New York Times has an article on the affordable-housing crisis in the Northeast and -- surprise -- "nearly every major city in California."
There is a little message of hope for people like me who want to quit throwing money down a rathole -- aka paying rent.
But homeowners will ultimately be affected as well by the growing number of people priced out of hot housing areas. With fewer potential buyers entering the market at the bottom, the sharp run-up in home values may be nearing an end, not only here in Boston but also in New York, Denver, Minneapolis, nearly every large city in California, and other places where prices have greatly outstripped incomes.
Now, if the guy who's selling the condo I want would realize that and accept my very fair offer, I'd be happy.