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follow Patrick 2018 May 22, 6:55pm
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Both median US Home prices and family income have been rising since 1963, though home prices have outpaced income. To me, the feature that stands out the most in this chart is the ‘bump’ in median home prices that started sometime around 2003, the subsequent decline that started around 2007, and then the rapid climb higher in home prices that we have been experiencing since 2011.
2. The above chart shows an increase of roughly 4 fold from 1986 to 2016. I purchased my first house in 1986 in OC, and it had increased 4 fold in line with OC median home prices by 2016. We all know California and OC median home prices have outperformed the national median home prices.