https://www.gobankingrates.com/inve...ource=yahoo.com&utm_content=11&utm_medium=rss Personally I think the likelihood isn't very high, but who knows with inflation running wild and blackrock buying up every house they can...
When it comes to such data it's always good to remember that the US state economies are as wide as first world and developing nations, making median studies barely relevant. $1.36M was surpassed a few years ago in the San Francisco Bay Area and may never get there in Oklahoma.
That is fun. But it does not matter if every one gets double double salary rise in 10 years, roughly 15% rise every year. The median home price will be 6 million in San Francisco. That is nice for government to collect double double property tax to fund more homeless...
I think in Palo Alto the median is already over $2.5 million. Also the North Bay in Marin County is pretty close. The amazing part of the bay area is I used to work in some of the worst parts of the area in 1990s & early 2000s in cities like San Leandro & Hayward and even those properties which are pretty meager sell for over $1 million. Even in 2012 they were worth like $300K-$400K at most. Now they sell for $1-$1.5 million. Recently the state supreme court ruled that UC Berkeley couldn't grow the school as much as the Regents wanted because there is no where for the students to live. There is no where to build housing here because the NIMBYs don't want anyone to build anything in Berkeley anymore. Even land that is owned by the UC Regents can not be developed because it never gets the permits to build thanks to the elderly here who seem to believe we still live in 1968.
America in general but California in particular and the Bay Area as example, the excesses of participative democracy are seen everywhere. Everyone wants a piece of the budget for their special interest, from the Bay Bridge that took over 20 years to build, the Oakland A's stadium on the waterfront that has been in negotiations for well over 5 years with nothing to show for, or how about a true Bay Area public transportation system that can't exist due to so many complexities. The list of Propositions keeps expanding, while one wonders why are politicians voted in when anyone with a disagreement can refuse to abide by decisions. We constrain their ability to govern, then blame them for not governing. In the end, no one is satisfied with anything, perfect breeding ground for anarchy or dictatorship.
A $60 Billion Housing Grab by Wall Street - The New York Times (nytimes.com) https://www.nytimes.com/2020/03/04/magazine/wall-street-landlords.html#commentsContainer
%% Good points\ + that is among several reason so many people are leaving CA. Case Schiller average is a good one but real estate is so local, not much point even in that measure/ unless one is interested in the actual areas noted.
I'd rather people move to Idaho or something, than live in city funded tents at CA taxpayer expenses.
%% Exactly\ on move away from gov housing =tents. Some may think that is a good ''free'' deal, but the gov could kick you out of that tent anytime..........................................................................