4 ms·
> Historically the price of the Average Home should be about 2x average household annual income. Source? I have heard many boomers talk about how the advice wa
by voisin 5y ago
> Historically the price of the Average Home should be about 2x average household annual income.
Source? I have heard many boomers talk about how the advice was to pay no more than 4x income. Obviously highly unlikely in this day and age.
- syshum 5y agoI don't know the original source, but it fairly common financial advice. Here is one source [1] but a simple DuckDuckGo search or Google Search will show many others. Some are starting to recommended 3-4x due to low interest which as I said in other comments I do not agree with. [1] https://www.investopedia.com/articles/pf/05/030905.asp https://www.investopedia.com/articles/pf/05/030905.asp