Home price to income ratio is not quite the right metric, since most people don't buy homes outright. Importantly, it misses the role of interest rates.
The ratio you would want is new mortgage payments to income. That metric would show housing continuing to get more expensive, rather than the slight decline in the graphs. The rise in interest rates has more than offset the decline in prices.
No. It might be part of the calculation when they do housing cost inflation, but I'm not sure.
You could get a back of the envelope number, by taking the ratio of twice the current prices to the prices prior to interest rate increases, since mortgage rates have roughly doubled.
We've been thinking about moving, but even a substantially smaller house in a less expensive area would come with a much higher monthly payment.
Home price to income ratio is not quite the right metric, since most people don't buy homes outright. Importantly, it misses the role of interest rates.
The ratio you would want is new mortgage payments to income. That metric would show housing continuing to get more expensive, rather than the slight decline in the graphs. The rise in interest rates has more than offset the decline in prices.
👆👆is there a chart you know of for this?
No. It might be part of the calculation when they do housing cost inflation, but I'm not sure.
You could get a back of the envelope number, by taking the ratio of twice the current prices to the prices prior to interest rate increases, since mortgage rates have roughly doubled.
We've been thinking about moving, but even a substantially smaller house in a less expensive area would come with a much higher monthly payment.
yes https://damus.io/note1ynsjv2x82l7ugtwccaud09au9gxt3axx543h72z7xt6nx9hq8u0qhpclrf
There's always a silver lining
куплю землю за 1000 сатоши. предложение без временное. даже через 200 лет это сделает Мой потомок)