Around the bottom of the last cycle, a 3/2 1500 sq-ft house rent for around $1200/month and price were around $160k. That’s with ~9% interest rate. You’re talking about $1030/month in mortgage with 20% down. If interest rate stay where it is today, a 3/2 1500 sq-ft houst rent for around $1900/month. If price goes to $250k, you’re talking about mortgage of $1200/month with 20% down. If mortgage payment stays the same ratio to rent as 1997, price should be around $340k. That 100/125/150 ratio does not take interest rate into consideration.