by Bill McBride on 6/28/2005 07:57:00 PM
Tuesday, June 28, 2005
According to the article in the previous post:
Today, the agency will release new state-by-state economic profiles. Taken together, the profiles conclude that most booming U.S. housing markets are sustained by strong growth in new jobs.Here is the California profile and two graphs.
"In general, that is where home prices are rising most rapidly," said Barbara Ryan, associate director of the FDIC's research division.
Click on graph for larger image.
Job growth in the bay area and southern California trailed the rest of the Nation.
Price appreciation outpaced income growth.
The data for California does not seem to support the FDIC's conclusion.
Posted by Bill McBride on 6/28/2005 07:57:00 PM