And as soon as I raise the question, the next blog post at Atrios’s place linked to this article at the Irvine Housing Blog… glad to see that I’m at least asking intelligent questions. If the linked data is correct, at the peak 10% of disposable income was coming from equity extracted from housing (it’s unclear to me whether this is nationwide or CA specific data, but the scale of the numbers implies nationwide).
That’s a big number.






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