U.S. House Prices Are Exponentially Outpacing Income

National Mortgage Professional, Oct. 28, 2021–Navi Persaud
A new report published by Real Estate Witch reported that income is failing to keep up with the pace of rising house prices in the United States. According to the report, from 2019 to 2021, the average house-price-to-income ratio increased from 4.7 to 5.4 — a 14.9% increase that’s more than double the recommended ratio of 2.6. Essentially what this means is homes cost 5.4x what the average person earns in one year.