[quote=bewildering]No, it is not an all-time high.
$525,000 in 2017 dollars = $420,000 in 2005 dollars.
The author of this article would presumably be astounded that houses in La Jolla only cost $30,000 in 1955. Because anyone could afford $30,000.[/quote]
Nah the author gets it — he addressed the inflation thing within the article. That said I agree that the headline could do a better job of distinguishing real vs. nominal prices. But it’s tough to do that without getting jargony. (FWIW, I doubt the author picked the headline).
Anyway, this will lead to a new round of “is this a bubble”… time to update the valuation stuff I guess!
This is probably the most relevant stat: SD home prices would have to rise 40%, with no accompanying increase in rents or income, to reach bubble peak levels. Still quite a ways off from there! But, definitely getting spendy…
