bearishgurl wrote:AN

[an]

[quote=bearishgurl][quote=AN]…Income went up 145% between 1970-1980. Income went up only 85% between 1980-1990. Income went up only 55% between 1990-2000. Income went up 19% between 2000-2010…[/quote]

[quote=AN]…Housing went up 53% between 1960-1970 and 266% between 1970-1980 in CA…[/quote]

I have a few questions for which I will need to do some “data mining” to answer. Maybe you can beat me to the punch, AN. For starters:

1. Did income go up 53% between 1960-1970 and 266% between 1970-1980 in CA? If not, how much did income actually go up in CA during these decades?

2. Did (nationwide) housing prices actually go up 19% between 2000 and 2010?

My hunch is that (nationwide) housing prices were less, on average, in 2010 than 2000 in most major markets.[/quote]
1. Here’s the data for US vs CA: http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/FS_Income.htm

2) Nationally, there’s no housing data from Census for that time frame. But it went up 43% between 60-70. It went up 178% between 70-80.

So, while income went up 145% between 70-80, housing went up 178% during that same time frame. All the while seeing mortgage rate went up from low 7% in 1970 to ~18% in 1981. So, rates went up DRASTICALLY, while income and home price also increased as well. So, I stand by my point that I don’t see and correlation between rate and price. Can this time be different? Sure it can. But you won’t finding me betting on it.