Kind Of Odd About The Money

If you read the St. Petersburg Times during the last week (June 11 -17, 2006) you probably noticed three rather interesting little articles. I didn't bother to keep any of the articles, so I can't give you specifics, but here is the "jist" of it.

The first story said that property in Pinellas County was 70-something percent overpriced based on the average income for people living in the county.

The second little story said something to the effect that people living in Pinellas County earn an average wage that is considerbly below average.

The third little article reports that 35,782 households in Pinellas County have a net worth of $1-million or more excluding the value of real estate holdings, that's 8.5% of the population.

What does all this mean? It could mean that employers need to pay people more money so they can own a decent house. It could mean that real estate prices need to be lower and more in-line with the realities of current income in Pinellas. It could mean that wealthy investors have driven up the value of real estate to the point where the "average" wage-earner can't afford much of a house.

It could mean a lot of things. It could mean absolutely nothing. I hope it does not mean that only those 8.5% who are millionaires can afford to buy property.

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