Median Home Prices In CA 1970-2009
October 15, 2009 in As Goes California..., Home Economics
Median Home Prices have fallen to levels seen in the early 2000’s. Statistically over time, real estate in CA has appreciated in value and considering real estate as a long term investment, in this current market, is the best bet for most home buyers.
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Certainly a long-term hedge against inflation at least. It will be interesting to see CAR update this chart next year.
Development of “All-on-One” Chart.
An “all-on-one” median housing price; median home price to median income ratio; median family income; graph could be developed as follows if the remaining data can be obtained (and graphed).
The chart would have an x-axis (time) displaying the years 1970 to 2009 (better 2010) at a minimum. (If data are available, the earliest year could be 1965 or before).
The left-hand side vertical axis would run from $0 to $600,000 (dollars).
The right-hand side vertical axis would run from 0 to 10 (or 11-12 as necessary) to display the median home price/median family income ratios for the years 1970-2009.
The missing data needed are:
Median family income for the U.S. and California over the years 1970-2009 (non-inflation adjusted).
Median home price/median family income ratios for California for the years 1970-2009(non-inflation adjusted).
The other graphs/data are contained in the items below.
Dr. Housing Bubble:
‘USA and California Existing Single-Family Resale Median Price 1970 – 2009′
http://www.doctorhousingbubble.com/wp-content/uploads/2009/09/1975-05_medianus.gif
US Existing House Price / Median Family Income By Barry Ritholtz – February 20th, 2009
http://www.ritholtz.com/blog/2009/02/us-existing-house-price-median-family-income/
‘U.S. Existing House Price (Case-Shiller)
div by Median Family Income (1965-2009)’