ex-Sd
Funny i was just back East visiting a place where prices didnt experience crazy bubble prices and the prices seemed to be about double what they were in 1996.
One problem with the median income logic is that the median income household does not generally purchase the median priced home. This is a rough example but you should et my point. Typically (of course there are exceptions), the bottom half of households income wise do not buy homes while the upper half does. So effectively it is the 75th percentile that is buying the median priced home. Furthermore, in a high cost such as this most of the buyers are generally skewed toward higher incomes more than in an area such as the Carolinas where you are now.
