Recession or spiked rates I've always said only two ways house prices can ever potential significantly correct.Buggy166 wrote: ↑May 19th, 2017 7:01 pmnot sure where you get those numbers from:
Silicon Valley median income - 102k
San Francisco - 92k
http://siliconvalleyindicators.org/data ... ld-income/
At $94,572, the region's 2013 median household income dwarfed both California's statewide $61,320 median and the nationwide $53,291 median, according to a new analysis of federal data by think tank Joint Venture Silicon Valley.Sep 24, 2014
Range of incomes from start of career to mid term 10yr:
http://www.huffingtonpost.com/entry/sil ... 0dab33ce96
San Francisco prices rise and fall with the tech sector boom/bust cycles. A bit like Alberta's real estate being tied up to oil, only a lot more secure because Silicon Valley isnt a 3rd tier choice in the world for the tech market (unlike tar sands oil production).
http://www.paragon-re.com/trend/3-reces ... and-a-baby
http://www.zerohedge.com/news/2017-03-1 ... bout-burst
By comparison, Vancouver real estate is more tied to China's economic engine than to Canada's, and Toronto's is tied to its local business sector (unlike manufacturing like it was way back in the day). If you see accountants and banking types losing jobs left right and center, that's when the GTA market will start going tits up. Until then, nothing to worry about.
And household income I used this: https://www.point2homes.com/US/Neighbor ... phics.html
Remember I used median not average which can get skewed up.