Taps Coogan – September 5th, 2021
Enjoy The Sounding Line? Click here to subscribe for free.
Enjoy The Sounding Line? Click here to subscribe for free.
The following chart, from EEAGLI, shows the number of years of work in the UK that it has taken to equal the average home price since 1845.
Back in 1845, it took just shy of 12 years of median income to add up to the average home price, a number which fell to a low of just 2.2 in 1919, the end of World War I and the Spanish Flu outbreak. Post 1919, the number oscillated around ‘4’ until the Dot-Com bubble popped and the era of increasingly accommodative monetary policy took off. It is currently at 8.5 years, tying the brief housing bubble peak for the least affordability since the turn of the 20th century, when work and housing were both very different things.
Would you like to be notified when we publish a new article on The Sounding Line? Click here to subscribe for free.
Would you like to be notified when we publish a new article on The Sounding Line? Click here to subscribe for free.
The house you can buy today is considerably more valuable in terms of insulation, climate control, safety and technology features. Things are more “expensive” but you’re getting more for your money.