I have seen CB posters from my city say with a straight face that there are $200k homes in our city in good neighborhoods with good schools. They claim the homes are just smaller or older.

As an active buyer in this market I can tell you they are clueless. Those homes sometimes look good on zillow but are in rough areas, riddled with foundation or roof issues (often both).

I am fortunate, I can still afford to buy if I choose to but I kept my Utah salary and live in an area with a household median income 30% lower. The families living and working here are a little better off than in Utah but still in a rough spot. The only young families buying here are 2 incomes or bringing in Utah & California equity with them.