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The Spread of 'Billionaire's Bay,' the Glut of Expensive Homes in San Francisco
- greenyoda 10y agoThe article makes no mention of the data being adjusted for inflation. If you don't adjust housing prices for inflation, you can expect that the number of homes priced above $1M will rise by some steady percentage each year even if their value in inflation-adjusted dollars remains constant. Over a few years, this will push a lot of average homes over the $1M mark (which is a completely arbitrary number anyway). Over time, a $1M house becomes less and less "expensive".
- bluejekyll 10y ago1 million $ still has a ring to it that people remember as being associated to wealth. You are of course correct, but 1M$ to most people is still a very large number. What's more disturbing is how flat wages are in comparison for non-tech people, and given rent increases that are also going up, most aver gage people will never afford a home at this rate.