That's what I meant, I think you're talking about some other metric though. It's just when you replied to Sungar's post I figured you were discussing the ratio. The long term median average Sungar talks about is expressed as a ratio of house price:household income (4.5x). I'm not sure what you mean by a chart of long term medians, if not expressed as a ratio. Anyway is ok, we're talking about different measures :), just not sure which ones.
Sungar posted: The long term median house price is 4.5 times the median household income. There have been periods in Australia's history when house prices have been above 4.5 times the median household income (now), there have also been numerous occasions in our history when house prices have been below 4.5 times the median house hold income. On every occasion when the median house price was above the long term median, sooner or later it has comes down to fall below long term average, that is the time to buy. That time is not now. Right now median house prices are 30% above the long term trend and 30% above median HOUSEHOLD income. On top of that, HOUSEHOLD debt is above average for 'other' loans is also high. How long it takes is anyone's guess but history has shown, it can take 5-10 years before a post housing bubble reaches it's bottom.
