from The Burning Platform:
The charts below certainly reflect a rational free market trend. Right? Home prices always double in the space of three years when the economy is limping along with sub 2% GDP growth and median real household income is still 7% below the levels of 2007 and equal to levels of 1989. These are the median home prices, so they aren’t even skewed by the really high end prices.
San Francisco is now unaffordable to 99% of the US population. Only the richest of the rich can afford to live there. The titans of technology usually lean to the left and spout gibberish about equal rights, going green, and fighting poverty as they occupy gated estates with armed guards to keep the riff raff out. They want the rest of the country to do what they say, not what they do. They don’t want the peasants living near them. The help can live in Stockton and take the bus to arrive on time to clean their toilets.
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