Moreover, housing prices historically have been linked with median wages. Houses should only be worth as much as buyers can reasonably afford. However if you l

Moreover, housing prices historically have been linked with median wages. Houses should only be worth as much as buyers can reasonably afford. However if you look at this graph you’ll see that house prices have departed from the historical average significantly, as they did in 2008 before the housing crash. https://www.longtermtrends.net/home-price-median-annual-income-ratio/ https://www.longtermtrends.net/home-price-median-annual-inco... Responsible buyers are supposed to put less than 30% of monthly income towards housing, but prices require much more than that. This is leading to most owners and renters being cost burdened and unable to save.