Quote:
Originally Posted by John Mercier
All properties have.
They keep long term charts of home prices relative to median incomes.
That is done nationally as well as State and in some cases metro.
Nationally, 50 years ago... the ratio was 3.8; just before the crash they peaked at 6.78. After covid, they peaked again at 7.12 and last data point that I saw was the end of last year at 7.12
But even all that fails to recognize the significant upgrades from years gone by; or the changing face of tourism.
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And this is why a rising tide has not lifted all boats. As people become wealthier they bid up the cost of scarce real estate, which increases costs for all. (Springsteen tix too! Have you seen the latest prices? 4X or so what they were 10 years ago
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