Quote:
Originally Posted by Garcia
We can split hairs about what constitutes middle class. How about this - over the past 30 years, the average value of lakefront property has increased much faster than average income over the same time period.
This made property more affordable for a larger segment of the population 30 years ago.
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All properties have.
They keep long term charts of home prices relative to median incomes.
That is done nationally as well as State and in some cases metro.
Nationally, 50 years ago... the ratio was 3.8; just before the crash they peaked at 6.78. After covid, they peaked again at 7.12 and last data point that I saw was the end of last year at 7.12
But even all that fails to recognize the significant upgrades from years gone by; or the changing face of tourism.