The Metrics are always out of whack for the best neighborhoods…..What the Piggs don’t get is that many successful people live in La Jolla and Carmel valley etc…There is alot of money out there ( not saying that people in those areas don’t sneak in with 0 down and risky loans of course)..
I was born and raised in New York and the “Metrics” kept my family out of Manhattan and Westchester for generations…So we didnt buy there but in Queens…Thats why people live in crappy places like Temecula and South Bay….You can’t apply 10 – 12X annual rent or some other weird equation to predict the “real ” price of the house in better neighborhoods because the good neighborhoods have a premium..Maybe those formulas work in Temecula or southeast san diego…Why dont the Piggs get this????..They are just jealous I think and resent anyone living in a nice area or buying right now….