House price to income ratio doesn't tell the whole story because that doesn't include cost of mortgage. A more informative value to compare would be monthly pay

House price to income ratio doesn't tell the whole story because that doesn't include cost of mortgage. A more informative value to compare would be monthly payment to income ratio. For example, when I bought my first home the price was around 4.5x my income. But the interest rate on that first mortgage was 8.25%