Home value to income ratios just ticked higher again and are now above 4.50%.
— The Kobeissi Letter (@KobeissiLetter) October 6, 2023
To put this in perspective, even in the 2006 peak home value to income ratios topped out at 4.34%.
The last time we saw home value to income ratio this high was in 1955.
Meanwhile, mortgage rates… pic.twitter.com/Ha4tn3RJzO