Housing Auctions not doing so well!!

[S2007S]

http://www.signonsandiego.com/uniontrib/20061022/news_1mi22auction.html

 

[TheDudeofLife]

probably because the intrinsic value of a home is basically 10 * (annaul rent.).and rents are strongly correlated with incomes of working people..real wages have not increased much in 10 years, yet home values skyrocketed....duh...

 

[The Kin2]

I would say 15 times... anything more is overpriced though. In some markets its probably close to 50. lmao

 

[stock777]

what are you laughing at, you don't own one.