Good Thinking

Looking at house-to-income and house-to-rent ratios. According to these charts, American homes are undervalued and hence good to buy.

Too bad this applies on a macro and not a micro level. I'm guessing most of the undervalued homes are in specific areas overbuilt during the housing bubble - like Vegas, Phoenix, etc. It doesn't seem to apply to Santa Monica yet, especially if you are in rent control.