patrick.net

Your trend line is showing that prices in 2000 were fairly priced. I worked as an experienced programmer in the Silicon Valley back in 2000, and it would have taken me 30 years and 1/2 of may take home pay to pay off a house which some illegal alien construction worker built in 3 months. And your trend line is showing that as "Fairly Priced"? Give me a f*n break!

"Your trend line is showing that prices in 2000 were fairly priced. I worked as an experienced programmer in the Silicon Valley back in 2000"

I was newly-arrived in the south bay in 2000 and prices were not that out of line, really.

Lending was starting to get weird but 80/20 lending was still a few years away, along with negative-am, stated-income, and other actual suicide lending.

The south bay has been flooded with millionaires these past 12 years. I don't know what the non-fortress is going to do, but don't expect prices in the good parts to come down much.

http://www.redfin.com/CA/CAMPBELL/1776-LEIGH-AVE-95008/home/731653

$800k is overpriced?

google mortgage is gone now

http://reversemortgagedaily.com/2012/02/05/google-shuts-down-mortgage-rate-comparison-tool/

but going with 10% down & 3.75% gives me a $2100/mo average cost-of-ownership over the 30 years of the loan.

Beats renting, maybe.

if it were as easy as drawing a curved line through some points to make a prediction we'd all be billionaires.

Bellingham Bill says

I was newly-arrived in the south bay in 2000 and prices were not that out of line, really.

Some areas jumped 30-50% between 97 and 00. Shit I told my mom (I was young then) that this is a bubble, I'll wait a few years. Looking back I should have just bought obviously.

CrazyMan says

Some areas jumped 30-50% between 97 and 00

That's not a reasonable appreciation in just 3 years. Historically, house prices only go up 2-3% per year, and this is in a good year.