in the crap, page-59

regardless of inflation, remove it if you like, with regard to you saying median averages will adjust back to the 90 year norm, i just dont agree with.

I'm sure he's talking about the ratio here. It doesn't really make sense to talk about a long term median house price without relating it to something, like household income.

So yes, median household incomes might be say 80% higher today than they would otherwise be in a single income society. However what Sungar is saying, is that the median house price is up more than 80%.

So assuming inflation adjusted figures, for the same of example

1970
Median household income 100, house price 450, ratio 4.5x

2010
Median household income 180, house price 1100, ratio 6.2x

So the house price would have to revert to around 800 to get back to the 4.5x ratio. It's happened in other countries, so I don't see why it won't eventually happen here. At least that's my understanding..