Median income affords median priced house?

[barista]

I saw this post recently on PI

http://blog.seattlepi.nwsource.com/real ... 155764.asp

It basically says that a median earner need not always be able to afford a median priced house. What has been the trend historically? I'm sure The Tim would have something that he can present as an evidance

[Everett_Tom]

I think this was covered in this post:
http://seattlebubble.com/blog/2008/02/2 ... 1950-2007/

I've added it to the discussion at the PI blog.

- ET

[The Tim]

Thanks Tom, that was exactly what I was going to post in reply to barista's question. Although I wasn't going to waste my time over at the Booster Club pointing out what should be obvious to the "professionals" that make up 99% of their readership and comment base.

[rose-colored-coolaid]

FYI, there is some small truth that a median earner need not earn enough to purchase a home, but only if you concoct a population statistically different than our own. Approximately 2/3rd of households in USA own their home, but median income is calculated in relation to 100% of the population of an area.

So, under normal circumstances the guy earning exactly median should be able to afford a house in the bottom quartile (at worst) else the market is out of whack. In what you linked, they seem to move onto their general confusion or mistrust of supply/demand principal. But it's easy to see how if the median buyer cannot afford any home, eventually total percent of homeowners would decline from 2/3rds to less than 1/2. Those are the only two long-term options.

[lamont]

[rose-colored-coolaid]

[uwp]

It's not really worth replying to those threads in the PI.

Mack has stated repeatedly that the opinions of Bubble-bloggers are simply the useless musings of amateurs (and he would never ask a clown to fix his plumbing so why would he go outside the REIC for RE info). And yet he posts a question asking for data that has been heavily discussed here for the past two years.

He is not looking for actual discussion he is a simple troll.

[rose-colored-coolaid]

[Alan]

[deejayoh]

[rose-colored-coolaid]

[deejayoh]

[cheapseats]

I actually used to like reading the PI real estate blogs, but now they seem to have chased off the RE professionals that did dissent.

[Alan]

RobRoy was the forum bubble and you missed that gravy train, DJO.

[deejayoh]

appears I might have latched onto another one here