[quote=moneymaker]http://www.governing.com/gov-data/economy-finance/housing-affordability-by-city-income-rental-costs.html
Guess it depends on where you live, not too surprised to see Escondido as a rent is to high place but Temecula is a little surprising.
Whether we are in a bubble or not also makes no difference to me personally as my mortgage is lower than I can rent for and no I’m not going to sell just to make a little money. Now when the average person cannot even come close to affording the average house then something is wrong. I’ve said it before and I’m saying it again now, the average wages are not keeping up with the increased cost of goods. Everything is increasing faster in price than incomes which is why the rich get richer and the poor are getting poorer. Granted a lot of those things are not necessary like water, electricity, eating out, movies, cell phones, new cars, drinking beer at breweries. Sure gas, groceries,air,and sunlight are still cheap, which must be how the government measures inflation.
If or when you take your equity out Rich just make sure you use it for something better than jet skis. P.S.-if not for the wife I would probably have a pair of them already.
Is it just my eyes or is the font shrinking?[/quote]
No, the font is not shrinking. It will be bigger after the upgrade, if that helps?
You are right to look at things in terms of income, but that’s what I addressed in the article I linked to. And I agree that housing is quite expensive in those terms. It doesn’t seem to be at “bubble” level though, especially when you consider that the monthly payment is still below the historical San Diego average, in terms of incomes and rents.
