[quote=millennial][quote=AN][quote=millennial]If that 11% is correct then it probably means exactly that. Still not sure how it relates to higher property values. I think it may also have to do with older people moving out and younger families moving in[/quote]It’s related by more affluent people can afford higher home price. It would be more worrisome if less affluent people move in AND price went up. Now, that would be recipe for disaster. More affluent people can afford more. Age doesn’t matter. $100k income is $100k income, regardless if you’re 25 or 65.[/quote]
Age does matter. If you have someone who’s old and bought the house in 1970 and have a dual income earning family move in you may move per capita income for the new homeowner from 35k to 150k.[/quote]Does it matter less if the young couple moving out make $35k and a baby boomer couple moving in making $150k?
