> The causation direction is usually that rising wages cause housing price increases (assuming a tight housing market where houses are in high demand). 40k peo

> The causation direction is usually that rising wages cause housing price increases (assuming a tight housing market where houses are in high demand). 40k people move to Seattle each year. 20k new housing units are built. It is sadistic musical chairs, the losers end up moving out of the city at best, or homeless at worst. The winners are stuck paying a huge % of their salary to keep a roof over their head. When I was looking to buy in 2020, around 10-15 new properties came up for sale in "desirable" neighborhoods (e.g. schools aren't trash) each week. You got to know the same people visiting the open houses each week. It is a complete cluster fuck around here. Drop 100k houses on the market and watch prices go down.