Great news everyone!
The Median Home Price to Median Income ratio just exceeded 9x in 2014 Q4! To be precise, it was 9.16x!
And with house prices growing 20% year over year, my guess is that when when the NAHB/Wells Fargo Housing Opportunity Index data for 2015 Q1 comes out, the Real Bay Area will easily exceed the peak of 9.27x set in 2007 Q2!
Where will this ratio go? It’s obvious that by the end of this year, it will be 10x… but when will it happen?
Great work everyone! The real question is: How can we drive this to 20x?
San Franciscans have already done their part by blocking new homes from being built. Redwood City-ers have succeeded with their protests of building more homes. Mountain View, Palo Alto, Millbrae, Burlingame: You guys need to pass laws to destroy existing apartments (because renters aren’t humans anyway).
What are your suggestions? Let’s hear them in the comments!