As further evidence this guy is a hack, notice he uses a non-standard measure of affordability: “increase in median income need to afford median house” rather than the standard mortgage payment to rent ratio.
Now there is nothing wrong with being innovative in choosing economic indicators. But the proper way to do this is (1) note what is happening with the standard accepted indicators (2) explain why alternative indicators may provide additional information not captured by the standard indicators (3) back test and compare the predictive power of standard and non-standard indicators.
He does not do a single one of these three steps.
On the other hand, you know you are dealing with a hack when someone just piles on these non-standard indicators, all of which support the same conclusions, and simply not acknowledge contrary data.
