irvinehomeowner
Well-known member
KPop time!
Back during the bubble, one of the arguments about Irvine housing prices was that the price to income ratio was too high.
People like AZDave, quoting Wikipedia, contended that the average income in Irvine was $100k and that the median pricing was way too high.
I think the average income in Irvine is higher than that. I know single income families pulling in more than $100k and dual income families making significantly more than that. High incomes has to be part of the reason why Irvine prices are still higher than surrounding areas.
This also goes for Tustin Ranch, Newport and some South County cities.
How can you get a valid average when there are residents with cash businesses, foreign income and various variables (like retired people and students) that skew true earnings. That's the problem with "reported" income and census data... it doesn't give you an accurate picture.
So where do you think the *real* average is?
Back during the bubble, one of the arguments about Irvine housing prices was that the price to income ratio was too high.
People like AZDave, quoting Wikipedia, contended that the average income in Irvine was $100k and that the median pricing was way too high.
I think the average income in Irvine is higher than that. I know single income families pulling in more than $100k and dual income families making significantly more than that. High incomes has to be part of the reason why Irvine prices are still higher than surrounding areas.
This also goes for Tustin Ranch, Newport and some South County cities.
How can you get a valid average when there are residents with cash businesses, foreign income and various variables (like retired people and students) that skew true earnings. That's the problem with "reported" income and census data... it doesn't give you an accurate picture.
So where do you think the *real* average is?