Stanislaus leads state in home affordability

The new calculations show that Stanislaus's median-income families now can afford to buy 71.1 percent of homes on the market. Three years ago, just before the housing bubble burst, only 3 percent of Stanislaus homes were affordable to median-income families.

In Merced, the percentage hit 70.9 percent and in San Joaquin it is 66.4 percent.

It's great news for those wanting to buy homes, but lousy for current owners and those needing to sell. That's because homes have become so affordable due to plunging prices, not soaring incomes.

The National Association of Home Builders/Wells Fargo Housing Opportunity Index released today calculates that Stanislaus home prices peaked at $387,000 during the fourth quarter of 2005. The index shows median home prices plummeted to $160,000 - a 59 percent drop - by the fourth quarter 2008. The median income in Stanislaus County is $56,500.

*** My 2 pennies ***

This is the way as reported, in which we can solve housing downturn NATURALLY.   That's the beauty of nature!   It has been done without human artificial intrusion, interference and manipulations, am I right?

Spending randomly is NOT the way.  Obamanomic is going to create more problems to it, not solving it. 

Well, there is no free lunch.  Obama's spending mania has to get some supports from taxpayers in addition to money, am I right?  No big problem!  Our DEM can wisely figure some ways out with beautiful sweet words and decent causes behind it.   Don't believe me?   Seems we can see the VMT Tax pretty soon, just right at the corner.   Let's enjoy VMT!

BTW, what VMT stands for?  Sure, you're right, it is not "Very Minimun Tax."  It is a tax based on Vehicle Miles Travelled.  Maybe, we are going to pay 25 cents per 4 miles we drive as proposed, i. e., $1 per 16 miles  (NOTE: my 1990 Mercedes 560 has no problem to meet this standard.  How about your Suburban?) 

So, let you enjoy your saving by buying a energy-saving car that, thought compacts you and your family into a small box, gives you 40 miles per gallon; but don't forget to pay your share of $2.5 a gallon when you drive, Okay? 

I love America and support Buy America enough to go for GM's Hummer or Suburban that either helping US economy in general as well as the 3 American automakers, or giving me an implied subsidy of $1.5 per gallon (you pay $2.5 minus my pay $1= reward of $1.5), right?

Don't argue with me that there is no consistency in Obamanomics, particularly its energy efficient car plan.  It is very in line with Obama's master mind in dealing with financial crisis.   What is that?  Reward the bad and reckless, and punish the good and prudent.  Well, that's maybe too strong for a nice guy as Barrack.  Let me clarify it.  I'd say he is not a person intending to do things like "privatize profits," but he is a big brother loving to take care of everyone, no matter good or bad, enough to do "socialize losses."  In fact,  He has a bigger heart, almost like a Bhuda who will scarify himself into Hell to rescue the worst person. 

Let's say, he is trying very hard to stop housing price falling as Don Quixote was so brave to stand up with an ideological mind "social responsibility," like his supporters Kathleen Day of the nonprofit Center For Responsible Lending.  She said in a report Some denounce Obama's homeowner rescue as unfair: "This is the financial equivalent of what Hurricane Katrina did to New Orleans. Did they know they were living below sea level?  Yes. Does that mean we shouldn't help them? That's ridiculous."  

(NOTE: Yes, it is absurd!  I mean, Kathleen's opinion is the most ridiculous words I have heard recently, even I am a news subscriber and supporter to her organization.   Well, it is a value she chosen.   May I ask: "Kathleen, will you jump into a trouble water to help someone drowning if you don't know how to swim, i.e., you have no sufficient competency and may lose your life, too?  That's REALLY ridiculous if I ask you so doing, right?  Sorry, I am an individualist and capitalist, too selfish and realistic to dare to push you into the river, in the name of social responsibility.) 

Well, let's forget home affordability for now and just pray to God give Barrack His All Mighty Power to house all people into a McMansion they can't afford as God gives his small cake to feed all the followers.  At least, pray to God that He doesn't let the kind Obama kids prolong the recession into a Great Depression as FDR did 79 years ago.