Median Home Prices In CA 1970-2009
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.
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)’