KOBEISSI LETTER: The U.S. home price to median household income ratio is NOW at 7.2X - a new all-time high! Was 6.8X during 2008 HOUSING BUBBLE!
READ THE ENITRE KOBEISSI LETTER POST HERE!
BREAKING: The US home price to median household income ratio is now at 7.2x, a new all-time high.
In other words, the average single-family home in the US now costs more than 7 times the median annual household income.
This ratio is officially above the 7.1x recorded in 2022 and 6.8x seen during the 2008 Housing Bubble.
By comparison, a few years before the 2020 pandemic the ratio was around 5.5x.
In just 5 years, home prices have soared ~50%, materially outpacing the 17% growth in household income.
US housing affordability is still getting worse.
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