Wednesday, December 31, 2008

California: Young Girls Aren't Coming to the Canyon

From Mr. Mortgage via Econompic:

"Scariest Housing-Related Chart Ever"

Mr. Mortgage, with data from DataQuick, posts the "Scariest Housing-Related Chart Ever" (though he only shows the data... below is the chart):

Down almost 50% from peak levels in less than 2 years! In the comments section, BertDilbert lays out what it all means to California very well:
This decline of housing values in CA is absolutely going to destroy seniors who had counted their house value in their net worth, and planned on that being there for retirement....MORE

Here's Twelve-Thirty on the Ed Sullivan Show:

I used to live in new york city
Every thing there was dark and dirty
Outside my window was a steeple
With a clock that always said 12:30

Young girls are coming to the canyon
And in the morning I can see them walking
I can no longer keep my blinds drawn
And I can't keep myself from talking....

Well, that last line is still true.