That's not what this statistic means. It means that if you spent 0 dollars and saved all your income you would need 7.27 years to buy a house. In practice you n

That's not what this statistic means. It means that if you spent 0 dollars and saved all your income you would need 7.27 years to buy a house. In practice you need a mortgage, of course. But now think how bad this gets when a house price is your 40 years worth of income...