There is no argument that the metrics are way way out of whack.
However people doubting assets, salaries, and purchasing power of others are doing so because they apply thier own purchasing power, life experience, salaries and circle of friends to the county population in general.
What I am saying is that is short sighted and not realistic. There is no difference between doing that and saying well, everyone here is just as smart or just as dumb as me. Lets not forget that there we have a county population in the 7 figures and we live in one of THE most desireable cities in the country.
Will these people who earn more then us and have this wealth support the market, prop it up, delay the return to fundamentals? Probably not… just try to be realistic and understand what you do or do not have or make in no way reflects what others have or do or do not make.
I am an engineer and work with engineers all day… we all make the same amount more or less and think we are the smartest guys in the world. Yet with my wifes business I deal with plastic surgeons all the time and get a glimpse into thier world. With my real estate business I meet a wide variety of people and have seen more diversity then I would have ever imagined.
Again it will not prop the market up, but don’t fall into the “I don’t make this amount of money trap so how can anyone support this other lifestyle or rental cost,” you kind of see what I am saying?
