I noticed they are using "listing prices" instead of sale prices or any kind of constant quality index to calculate their ratios. That's probably not ideal, but since price series are hard to find for homes it's at least understandable (that and it's their business model to collect listings).
I do a lot of work in this domain and the price-to-rent and price-to-income ratios for California look higher by my calculations. Using median sales prices for the broader metro area and income and rent data from the Census, I'm finding California is still quite expensive.
I do a lot of work in this domain and the price-to-rent and price-to-income ratios for California look higher by my calculations. Using median sales prices for the broader metro area and income and rent data from the Census, I'm finding California is still quite expensive.
http://www.deptofnumbers.com/affordability/metros
Click on the table heading columns to sort and you see some pretty unaffordable stuff in California. For San Jose the rent ratio is ~35.
Note: In case it wasn't obvious, I'm linking to a site I maintain above.