Ratio is usually calculated on household income. So it assumes closer to two incomes per household. Where I live (Auckland, New Zealand) the average household

Ratio is usually calculated on household income. So it assumes closer to two incomes per household. Where I live (Auckland, New Zealand) the average household income is just over $NZ 140k, while the average house price is around $NZ 1.4m.[1] https://www.stuff.co.nz/life-style/homed/real-estate/127803109/drastic-fall-in-nz-housing-affordability-takes-it-to-worst-level-on-record https://www.stuff.co.nz/life-style/homed/real-estate/1278031...