I highly doubt housing bull ever do that calculation. Because if they did, even they would see that it’s impossible. If it continues @ 10%, in 10 years, the average median price will be $1.5M. How does that make any sense. When wage goes up at about 3.5% a year, after 10 years, the average wage will be around $91k. A person w/ $91k will never be able to afford a $1.5M house, even w/ a 0% neg-am loan.
