Potential rejoinder: “But maybe it’s straight line relationship if we compare home price to income (instead of home price to rent)?”
Nah.
[img_assist|nid=1977|title=
Home Price and Income in San Diego, 1976-2004|desc=|link=node|align=left|width=466|height=267]
Pick one or the other — income or rent — to compare to home price, because the relationship to price appears nearly identical (i.e., the plots of price-to-income and price-to-rent are mighty similar).
[img_assist|nid=1978|title=
Price to Income and Price to Rent, 1974-2004|desc=|link=node|align=left|width=466|height=267]
But, hey, maybe I can’t tell the difference between the two, or don’t see a straight line, because I’m a simple-minded, right-wing, (ex) military Christian Neanderthal. I’m sure that there’s some ‘nuance’ that I’m missing here. You leftist/progressive/liberal elites, please enlighten me!
