[quote=sdrealtor]CAR
Great points! Wages up 34% between 89 and 99 but housing flat portends some catching up in housing prices to come. In essence the appreciation we got between 1999 and 2008 was catching up for what was missed the decade before.
You have to remember my east coast bias. SUre the Hollywood jet set knew about the playground down south but on the east coast- upper middle class america did not. I have a perspective you dont. You are playing semantics and it just doesnt work.[/quote]
I knew you’d say that. 😉
IMHO, the cost of rising healthcare, education, energy, etc. can offset some of that wage appreciation, leaving less money for housing costs.
It’s also interesting to consider the fact that jobs are less stable, DB pension plans are diminished, as well as employer-paid healthcare (some for life in the public sector!) that is all gone now, which leads to less money for housing (need to save more now, if nothing is guaranteed in the future).
Still not convinced that “it’s different here this time.”
