Blow Out 2004-2005

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The median price for a home in Los Angeles nearly hit $475,000 as the year drew to a close, up 24.2 percent over the previous year. Reasonable people about to buy a house or refinance one might ask if they’ll be upside down in the event of a crash.


But there’s no cause for concern, according to the folks at KB Home.

The company sent out a mug containing a bottle of blowing bubbles as its holiday greeting.


“Your friends at KB Home have sent you the only bubble you will need to focus on in 2005,” wrote Derrick M. Hall, the company’s vice president of corporate communications. “Here’s to a healthy and happy new year.”

Or at least a soft landing: Job and income growth are projected to be sluggish, retail sales decelerating and housing prices declining by 7 percent for the year 2005, according to the Los Angeles County Economic Forecast prepared for the Independent Colleges of Southern California by Chapman University’s A. Gary Anderson Center for Economic Research.

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