It looks like this is counting the average rather than median, so it's going to be skewed by the top earners. Here is per capita income during the same time period using 2019 dollars:
It has increased even faster than average housing costs. To be fair, that's is expected because rich people don't spend the same percentage their income on housing as most other people.
Good point. The data I reported is for "shelter" only, excluding utilities, furniture, etc., so I'm not sure how that looks on the income curve. You're also reporting average income, not median. Median income is much stabler, having climbed about $6000 since 1990.
My main point is, people are spending more on housing. It's not a mirage. It is highly concentrated where there are jobs, but of course people move to where the jobs are. It's facile to say they should move somewhere else, or that they are getting "more" for their housing.
>My main point is, people are spending more on housing. It's not a mirage.
House sizes have grown a lot too. When you factor that in, you get to what the OP stated: per square foot, housing prices have been remarkably constant (and for much longer than his 1990 to 2020 window).
When you factor in that houses are now vastly more energy efficient, safe, with niceties like central air, then modern home buyers are likely getting the best deals in history.
It has increased even faster than average housing costs. To be fair, that's is expected because rich people don't spend the same percentage their income on housing as most other people.