City unemployment for April at 3.9%. Unfortunately labor force and employment went down, but employment is still over 35k more than April 2014, and over 70K more than April 2010.
Quote:
Originally Posted by rgolch
That's kinda what I thought. It's great if you own a home you're trying to sell. But if you're in the market to buy, it's terrible. What's more, you gotta think there's going to be a breaking point for some US markets. Not everyone in the Bay Area is a dot com billionaire. Teachers, bus drivers, cops, and people working in the service industry also need places to live. And not everyone can be expected to have a 90 minute commute just to get to work. I mean... am I missing something?
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Yeah, housing price increases are good, but I think there's a limit to how much in making your city not a steaming pile of shot that nobody can afford. Also, csi only counts single family homes, and ones that didn't undergo major renovations. It's an index of how much your single family home price can increase over time without really investing much money in it. At the same time, in actual cities themselves like a NYC, SF, Chicago, etc it's not a good indicator since there's so many condos and those aren't actually what the index measures