[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.
