@ JES – man, I hear you.
Your second paragraph is an almost verbatim conversation I had with some friends last week in L.A, including the NAR press release!
With the horrible new data on wage increases (or, not) it still amazes me that reasonable, intelligent people think that – in one of the most unaffordable places in the US (Los Angeles) – prices will still go up.
‘Oh, but prices will go up slowly’, they say. But if you’re looking for a starter home at 800K, then saying it might go up slowly to 850K over the next few years, isn’t going to make the place any more affordable if your wages aren’t keeping up.
