Rents are in their own bubble right now, IMO. Too many LLs asking $2K+/mo rent for really basic housing in average neighborhoods.

Bubble ? in rents ? Didn’t we cover this already ?

2K per month is 24K per year.
Median Household income (as of 2006 per SANDAG) was : 65K

That’s 37% of median household income for an average house using 2006 income numbers and your assessment of average. That’s a bit high, but the rent was for an “average” house (not including
apartments) and income numbers are from all households including apartment and condo dwellers.

If you look at median rent versus median income it’s even lower. Median rent is about 30% of median household income. That’s not that out of line with traditional guidelines of 1/3 of your income to housing.