Monday, May 25, 2009

The US Housing Bubble

The map above provided by Richard Florida in The Atlantic gives a sense of how the housing bubble developed in the United States in the 2000s. This was in 2006, at the height of the boom. Note some of the incredible ratios of house prices to average wage on the West Coast - six regions in California reached as high as 15:1+ (Salinas, Santa Cruz, Santa Barbara, Oxnard-Thousand Oaks, Napa, and San Luis Obispo). Los Angeles and San Francisco were both 10:1+.

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