“I remember 20 years ago, my mother could buy a home in Nor Cal for about 140K — she thought it was too much on her $38K/year job. She also thought prices would come down dramatically and kept renting. Guess what??? Rent went up and quickly surpassed what that mortgage for the $140K home would have been.”
With 38K/year and 140K . The ratio is around 3.7
For 500K home it is around 135K/year . Not sure how many people make this much money
