Jun

6

While watching the Giants struggle this afternoon to get a single base hit, I amused myself by reviewing the prices of California real estate since I arrived here in 1972. I used the data series for the "median priced single family home". To index the prices I used tuition years– the cost of a full-year (2 semesters or 4 quarters) at a University of California campus.

NOTE: the calculation does not involve living expenses, books and other costs, only the official tuition rates.

Here is the result:

1975 - 34
1980 - 82
1985 - 40
1990 - 50
1995 - 13
2000 - 22
2005 - 24
2011 - 7

The standard family of 4 can now spend less money to buy an average house than it will spend to send the 2 children to a college in the UC system.

 


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