In my experience people will spend as much money as they can to get into desirable real estate. So if demand exceeds supply then prices rise to a high % of inc

In my experience people will spend as much money as they can to get into desirable real estate. So if demand exceeds supply then prices rise to a high % of income. This is why I don't believe in minimum wage increases in HCOL urban areas. Real estate prices just rise to adjust. One way to hack the system is to have LCOL in a HCOL area, like living in a van in SF. But few people have the fortitude (or whatever) to do this.