Wednesday, May 17, 2006

Why Sacramento?

Burbed looks at the Sacramento housing market and asks why?

I thought that was pretty impressive until I saw Sacramento.

It’s amazing to me how people’s incomes have almost quadrupled since 1997 in Sacramento - after all, house price increases usually reflect job growth right? Oh wait...

Well it must have been because they stopped building homes in Sacramento in 2004, hence the spike! Oh wait..

Maybe it was because Sacramento suddenly shrunk so there was less land...because they started making more farms so we wouldn’t have to import our food from South America and Asia! Oh wait...

I’m stumped. What do you think?
This graph is also worth checking out.

1 comment:

Out at the peak said...

I believe that graph is very close with the general CA trend.

And we all know what made the prices go up. Alan Greenspan's overnight rate, lending irresponsibility, and mass hyseria.