The April real estate data is out for San Diego County.

It’s worser and worser…

Once again YoY prices are up by 17-19%.

The average house price in April was a $1.361M.

The median house prices is up to… a cool $1.000M

And the median is rising faster than the average.

That’s for detached houses.

Because single family dwellings are no so expensive people are pushing towards attached dwellings.

And that lead to the average attached dwelling rising over 25% YoY.

That’s a rate which leads to doubling in price in less than 3 years.

People’s salaries have not doubled.

This is a squeeze that will be felt around the country. We tend to be trend setters out here, but most major urban areas are already undergoing similar transitions to a new price level, which will rule out large swaths of the population being able to afford to own their own dwellings.

These curves are trying to be exponentials:

Things like this will affect elections.

We are in the middle of another transition in this nation, in how we live.

What the other side is I do not know, but my nature is to expect it to be unpleasant.