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How much did the average salary in the area go up last year?
Good question. Doesn't it make sense that inflation in house prices should be in line with increases in salaries? That sounds much more sustainable to me.
Good question. Doesn't it make sense that inflation in house prices should be in line with increases in salaries? That sounds much more sustainable to me.
I just want to know what type of job it takes to afford a brand new $600k+ house. All the new housing development signs here in the northwest Raleigh area all seem to say "starting in the low $600s."
Location: River's Edge Inn, Todd NC, and Lorgues France
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Quote:
Originally Posted by Grizzmeister
Good question. Doesn't it make sense that inflation in house prices should be in line with increases in salaries? That sounds much more sustainable to me.
It may be more sustainable, but the housing market just doesn't work that way.
I just want to know what type of job it takes to afford a brand new $600k+ house. All the new housing development signs here in the northwest Raleigh area all seem to say "starting in the low $600s."
Good question. Doesn't it make sense that inflation in house prices should be in line with increases in salaries? That sounds much more sustainable to me.
Housing prices have outgained wages, adjusted for inflation, for many decades.
Housing prices have outgained wages, adjusted for inflation, for many decades.
Artificially as evidenced by what happened in 2008. Without government intervention it's highly doubtful that house prices would have gone back up since then.
When people start to argue that economic fundamentals don't apply, it's easy to understand how a situation like this has occurred.
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