SD average wages for 2007 was $61k and expected to fall from there.
2.5 times earnings ($61k) equals $152,500.00
Housing prices at 2.5 times earnings is a good historical ratio for bad economic times.
70% of our GDP is consumer spending. Without bubble dollars we will need figures like that to allow consumers the extra money to spend and get the economy going.
So yeah, 1980s pricing of $145k non-masturabated with inflation is pretty close.
