[quote=BGinRB][quote=FormerSanDiegan]Based on fundamentals we are below the long-term average in terms of monthly housing costs relative to rents and incomes. [/quote]
Rich’s recent graph shows that the ratio you quoted is nearing the top of the previous bubble. We are not even below the pre-2002 maximum.
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You are mistaken. Clearly the monthly housing costs relative to rent and incomes are below 30-year averages as shown in Rich’s recent charts.
