My point is that ultimately income drives how much house people can qualify for and/or afford (not always equivalent).
The median price home sales are for people who are buying today, not those already in during more affordable times.
I am not saying that prices are not out of whack. They are.
I’m simply stating that comparing median household income to loan qualification standards for a median priced house is flawed.
for example my Aunt is 70years old, owns a home worth $800,000 in Laguna Hills but earns like 35k/yr from her retirement and benefits! so your math is of little value!
Kev – Is she buying the home on her 35K income ? NO.
You have it backwards.
