<prompt> Human: The median income in the Los Angeles area is about 64,000. Presumably, in an area with 60 owners and 40 renters, someone with the median income should be able to afford to purchase a low-end house in the area. However that is absolutely not the case.Heres the data: Lets look at El Segundo, which is off the coast near the center. The median income is about 84,000. The median home is about 1.2 million. Even a low end house is going to go for about 800,000 there. How does this even work? I just dont understand the economics of it.I say this because together, my household wife and I bring in about 230,000 a year and have significant savings. Even then, we werent comfortable purchasing a home that cost more than 750k, and probably wouldnt qualify for anything over 900k. This puts us above the median income in the richest area of Los Angeles - Bel Air, yet we could never afford to live there.  <response>: Many homes are owned by the retired and others are either vacation homes or non-resident owned. This skews the results, since the owners are not considered in determining the median income. In some of the more upscale communities on the coast, half the multi-million dollar homes are unoccupied at any one time. 