no crash just yet, page-4

Second, despite various attempts to paint Australia’s house price-to-income ratio as growing rapidly, it has in fact been stable over the period since 2003, tracking at an average of just above four.

For this to be true, wage growth must have kept pace with housing prices. I mean what other conclusion can you come to? Someone give it to me straight, have wages doubled or tripled in the last decade (in which case I need a lengthy discussion with my employer), or have I simply imagined the recent jump in property prices?