harveyc

ewitte, prices across California vary a great deal. None of the prices themselves are crazy or a cause of the problem. As Andrew pointed out, the problem has been people buying more than they could afford and borrowing more money than they can repay. I know of poeple with million dollar homes which are paid for and I know people who bought a home for $150,000 with more owed on them than they are worth and now out of work. Which person in this case was crazy?

California is a very large state with diverse housing and climates. I had someone recently tell me that my climate was warmer because I lived in California. California often is the hottest spot (Death Valley) and coldest spot (Truckee) in the USA. Generalizations are often more wrong than right.

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