It’s time for a little update on the long-term aggregate housing valuation charts. (The emphasis is on the word "aggregate" — let’s just get it right out of the way these charts are based on a single home price measurement that encompasses the high end, the low end, and everything in between).
To sum it up, we’ve gone pretty much nowhere since the prior checkup on these numbers as of December 2008.
The home price-to-income ratio had dropped further in the early part of the year, but rising home prices and falling incomes have combined to nudge the ratio back up in recent months.
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Shambling Towards (Though, More Recently, From) Affordability
It’s time for a little update on the long-term aggregate housing valuation charts. (The emphasis is on the word "aggregate" — let’s just get it right out of the way these charts are based on a single home price measurement that encompasses the high end, the low end, and everything in between).
To sum it up, we’ve gone pretty much nowhere since the prior checkup on these numbers as of December 2008.
The home price-to-income ratio had dropped further in the early part of the year, but rising home prices and falling incomes have combined to nudge the ratio back up in recent months.