Hasn't the rise in price greatly exceeded the rise in income? If so, sure they're always expensive in an absolute sense being of multiple years' pay, but enormo

Hasn't the rise in price greatly exceeded the rise in income? If so, sure they're always expensive in an absolute sense being of multiple years' pay, but enormously more so now. Since shelter is more important than other things, the rate of ownership really depends on how much is taken out for rentals or left empty. The money/capital remaining for anything else is smaller. Size and quality don't change for pre-existing stock. There are a lot of crappy ranch houses that cost 1.3-1.8 MM now.