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House Prices to National Average Wage Index

Today, in the Newsletter: House Prices to National Average Wage Index

Excerpt: This graph shows the ratio of house price indexes divided by the National Average Wage Index (the Wage index for 2020 was released yesterday). This uses the annual average National Case-Shiller index since 1976 (and an estimate for 2021). …

As of 2021, house prices were well above the median historical ratio – and not far below the bubble peak. 

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