I totally agree with the realtors in this thread that money isn’t an issue for many, many people. Your perception really depends on the crowd you spend your time with. If you have mostly blue collar friends, then yeah you’re not going to see much money. My wife and I have a circle of 40 or so close friends (the ones you invite to parties). Between the two of us, we make about $150k, yet our income is on the low end compared to those friends. Of the 40, there are only 6 (three couples) who make less than we do. One of those couples actually chooses to work minimally while they wait for a large inheritance. And these aren’t people who all grew up together in Beverly Hills or something, they’re from all walks of life and all areas of the country, mid-30’s to mid-40’s, most white collar professionals with degrees. Several of them (including us, thankfully) got lucky with stock options. Others run successful businesses that have been in the family for decades. Frugal parents are starting to die off, and they have paid-for houses and nice portfolios thanks to union work.
Fortunately income isn’t the only force that drives real estate prices. They will rise and fall regardless of the available money. I’m seeing a long, slow decline as SD R does.
