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House Prices Versus Index Of Average Weekly Earning, 1998-2021
Ever so close to the peak in 2006, percentage wise. And people are in bidding wars over houses. Always the same. If history were to repeat, houses'd be a bargain around 2026.
It marks an extreme willingness to pay; pity “a smart price paid” can’t be charted.
What a gap between wages and house prices, no wonder young married folks can't afford to buy. I would like to see this on individual markets: Phoenix, LA, San Francisco, Dallas, Boise, Portland, etc