200 is the upper range of acceptable, in my opinion. This depends, of course, on interest rates. When interest rates were higher, the ratio used to be lower (150 or so). But, speaking for myself, today I would be a buyer at around the 200 mark. It wouldn’t be a screaming deal, mind you, but it would be “acceptable”.
Nowadays the low-end areas are way below 200, while the higher end still levitates at 250 or so (like in your example).
