Housing recovery?need purchasing power.

[Rich Weese]

I read an article today that makes me more nervous about a recovery.Associated Press--
Inflation adjusted wages rose till about May 2008. It hit $18.53 or $8.65 in 1982 adjusted rate. Since then, the rate according to Labor dept has dropped to $8.54, a drop of 1.3%.
Here is my question for the smart folks on here. What was the average priced home price in 1982? Another words, what would $8.65 qualify you for? Compared to todays price of average home? You have to have people qualify with the average wage for the average home, or I see no recovery.
"The resulting wage depression caused an economic scarrring of the labor force." For example, the inflation- adjusted wages stagnated for 4 years after the 1991 downturn. They also remained flat from 2002 to 2005 after the mild recession of 2001. What will be the result after we muddle through the mess we're in now?
The question seems to be, how can you have a housing recovery if wages stay flat or low, lenders won't loan and people have a hard time qualifying? Enen when the unemployed find jobs, they're being forced to take much lower pay, if they can even find a job. Somewhere around 6 applicants for each available job, and wages are averaging 25% less, if you're lucky enough to be offered a job. Rich