Should I sell my house

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Troop,

Are you really a copper, or just a good sport?

I'm from back east - where they really do call them "state troopers".
 
To expound on the 3x thing a touch more... I fully recognize that it marginalizes me as a homebuyer. I have a live-below-my-means lifestyle. I sleep well at night knowing that I could lose my job tomorrow yet still be able to keep food in the fridge and the power on for over a year without going into debt and without touching my retirement funds.

I see no reason to shoot that financial security all to hell just so I can have a bigger house. If that means being stuck in a dumb little condo, so be it.
 
Yeah, I miss the east coast. Neighbors are like family. That's another reason why I don't like renting. Every time I get close to a neighbor here - they move. Or maybe it's a California thing - no one can sit still for more than 2 years around here. Back home you bought a place and basically stayed there your entire life practically - or at least in the same area. I knew my neighbor's kids since they were 2 years old. Now they are graduating high school. Even a family party wouldn't be the same if they weren't there - they truly were just like family. Oh, well.
 
Eff....that's the approach I plan to take as well (around 3X), which is why I've been looking to P.S. Considering how well the I.E. is doing, I should be able to buy something nice there (P.S., Palm Desert, etc.) in about 2 yrs. And if I keep the CT place, I will then summer there and winter in the P.S. house upon retirement. That's the plan... for now at least.
 
Trooper -

Palm Desert is actually very nice. Let me know if you find some good deals there (I would love a vacation home there!). "bars on windows included" makes me think of that movie, "boyz in the hood." :)
 
Just to show the 3x number is not fiction from a historical context here is three SoCal cities with high attractiveness to asians in 2000:

Diamond Bar

median household income (2000): $68,871

median house/condo price (2000): $245,800

Ratio: 3.56

Irvine

median household income (2000): $72,057

median house/condo price (2000): $316,800

Ratio: 4.39

San Marino

median household income (2000): $117,267

median house/condo price (2000): $690,800

Ratio: 5.89

Beverly Hills however looks extremely rich in house prices / income in 2000.

Beverly Hills

median household income (2000): $70,945

median house/condo price (2000): $1,000,001

Ratio: 14.09
 
bishie, I think the trendline for SoCal has been over 3x for 3-4 decades. I'd be interested in seeing the numbers from other MSA's. Where are you getting that data?
 
Neat. My hometown went from 2.5x to 3x from 2000 to 2006.

The interesting thing is that their RE market is quite stagnant, even at this low price level.
 
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