The Moment We've All Been Waiting For

An article from the January edition of Reason Magazine caught my eye the other day. It shows just how far out of whack home prices had gotten. Editor Tim Cavanaugh writes that “Comparing data from the U.S. Census Bureau and the National Association of Realtors, a house today costs four times your annual salary. Ten years ago it cost only three times as much. In 1988 it cost twice as much; in 1978, less than twice as much.”

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