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They're comparing the median price houses sold for with the overall median income for the area. It may be the case, in some areas, that people below the median
by vonmoltke 7y ago
They're comparing the median price houses sold for with the overall median income for the area. It may be the case, in some areas, that people below the median income are renting rather than buying, or staying in already-purchased houses as the real estate market heats up.
Seeing the ratio of median house price to median home buyer's income would be interesting.
- thundergolfer 7y agoThis is also interesting though, isn't it? If more and more below-median-income people are renting because they can't afford to buy, that's definitely important and interesting.
- vonmoltke 7y agoYes, but not in isolation.