OK let me give you a example a child would understand. When...

OK let me give you a example a child would understand.

When median houses were $50K median wages were $15K This was actually around 1981 - So houses were worth 3.3 years wages.

In 1996 median houses were worth $150K and wages were about $45K - so houses were still worth about 3.3 years wages

Today at a guess i think the median wage is about $80K with house price around 660K thats 8x wages

Housing has over striped in flation and hit the upper limits of wages, which is why smart people are not bulls anymore.