This is still a bit spun though. Median income has risen even faster!
Some quick unverified googling says that in 1950 US Median income was $3300, and that inflation since 1950 has been a 10.89x increase. US median income today is $80k.
So indeed, housing has gotten a lot more expensive in real terms. But we've all gotten richer, and on average A US Household is spending less of its income on housing today than in 1950, not more.
California, it's true, is sort of out of control. But that's clearly a local thing in two metro areas, not a problem with the economy as a whole.
Some quick unverified googling says that in 1950 US Median income was $3300, and that inflation since 1950 has been a 10.89x increase. US median income today is $80k.
So indeed, housing has gotten a lot more expensive in real terms. But we've all gotten richer, and on average A US Household is spending less of its income on housing today than in 1950, not more.
California, it's true, is sort of out of control. But that's clearly a local thing in two metro areas, not a problem with the economy as a whole.