TAPPED has had several great posts on the incredible increases in housing prices in recent decades, exactly the sort of discussion relevant to me as my family decides what to do if we want to buy our own home.
Stats like these are quite eye-opening:
The U.S. median price of a single-family home was $218,000 in October, according to the National Association of Realtors. It's more than three times that in the San Francisco area ($721,900), more than twice that in New York ($461,100, and that's not including Manhattan), and about double in Boston ($430,900). Rental prices are climbing, too.
People earning the median income can afford only 2% of the homes in the Los Angeles area and 24% in Boston.
As for me, chances are we won't be leaving the Bay Area. The more we look at possible alternatives, the more we realize that this place is so expensive precisely because it's the most perfect place in the world. At least for us. World-class city across the bay, a family-friendly college town, and, just over the Berkeley Hills, vast open spaces for cycling and hiking, and a relatively short drive to water and winter sports. And, we can enjoy the outdoors 11 months out of the year.
It's tough to top that.