Agree that we must work with data that are available.
I was trying to find the data to support PS’ statement :
“Because the median family income in San Diego is $51K/year. Since the median house is $500K, that is a multiplier of 10! The usual multiplier is 3-3.5.”
This is misleading. Unless the median income (in nominal dollars) is the same now as it was in 1995, we were above the 3-3.5 ratio even in the darkest days of median home prices in San Diego of 1995.
No way that is the usual ratio of median income to median price.
