[quote=SD Realtor]The median home price has never matched up to any other averages, not now, not 10 years ago, not 20 years ago. It is doubtful that they ever will.[/quote]
Yes, but they were closer, say in the late 90’s (after real estate had recovered from the early 90’s crash and before the Greenspan bubble).
Though, I do recall there were a ton of buyers at those levels (I bought a place in ’98). And that was when Qualcomm and other companies were still relatively modest in size. But then again, we had FAR less housing units.
It still seems like we’re at unsustainable levels. I have a few friends with great incomes (combined in the 200’s) and they are having to look for smaller places a ways out. My friends who have decent incomes (combined in the mid 100’s) have no options. I have a few single friends in the low 100’s… good luck.
Even in San Diego, 200k is a GOOD salary. Look at any of the city-data.com stats and it’s in the minority of incomes, even in 92127 or 92130. People earning 200k should have a nice selection of 4x-5x income homes to choose from, eg, 800k-1M.
