The last time house prices were this expensive relative to average earnings was in the year 1876, nearly 150 years ago.
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Amazing it was relatively stable 1920-1990
Well on the way back to serfdom… wonderful.
My understanding is that mortgage rate also plays a role in housing prices. So it would be a nice addition if they added average mortgage rate on the same graph or had another graph with total cost for buying a house with a 30 year mortgage.
