2005/11/26

Orange Country real estate

OC Register's "Home Prices" page shows interesting trends in S.Calif. Median price is $606,000! With 6% interest rate, a 30 year loan is $3,633 per month. Average income in OC was $72k in 2003. If one pays 25% of tax, that's $4,500 per month which means one lives on $900 per month?!?! Let's assume you don't need natural gas or electricity in Calif, even then you still have to drive, eat, buy new clothes, etc. That's a lot of needs with little bit of money (not to mention all other wants that have become needs today like cell phone and cable and high speed internet). And that doesn't touch tithing (900 - 600 = 300)....