Back in November of 2011 I wrote THIS PIECE about the affordability of housing in the Portland-Metro area using various statistics. One of the measures I used was the multiple of the “average annual household wage to average single family home price”. It showed that the multiple had dropped from a high of almost 8.5 at the peak to just above 5.5 today.
My uncle forwarded me a newsletter from a wealth management firm up in Vancouver, Canada which measured the affordability of housing in the US based on the number of hours a household must work in order to qualify for home-ownership. I thought it was an interesting follow up so though I would post the graph. If you want to read the entire newsletter you can do it HERE.
