1. “Median income” – per Census definition, includes income earned by anyone 15 yrs old and up. So a 15 yr old working 2 nights a week at Blockbuster is factored in to the median income stats. Think that might drag down the median a bit? Or is it offset by the billionaires in The OC?
2. The calculations in this thread appear to relate to the first time buyer only. For instance, and $83K household income can certainly afford a $600K house if that household has already made $250K profit on a prior home purchase and they roll that profit into the $600K purchase.
