{"type":"rich","version":"1.0","title":"Mike Dilger ☑️ wrote","author_name":"Mike Dilger ☑️ (npub1ac…9p35c)","author_url":"https://yabu.me/npub1acg6thl5psv62405rljzkj8spesceyfz2c32udakc2ak0dmvfeyse9p35c","provider_name":"njump","provider_url":"https://yabu.me","html":"House prices are often hard to figure out.  Is the market high?  It is low?  What is normal?\n\nI'm fond of the ratio of average house price to median household yearly income.  This gives a number that you can compare across countries and over time.\n\nFor you Americans: https://www.longtermtrends.net/home-price-median-annual-income-ratio/\n\nThe lowest I've seen in my lifetime is 3.6 in the USA in 1973.\nThe highest I've seen in my lifetime is 8.9 in NZ in 2022.\nNZ has fallen off of that back down to about 7.  Which is now equal to the highest the US has ever seen.\nThe 2005-2007 subprime meltdown, where up to 25% of subprime loans became bad debt, the peak was at 7.\nThe US is back up to about 7."}