Real House Prices, Price-to-Rent Ratio and Price-to-Median Income in July

And a look at "Affordability"

It has been over fifteen years since the bubble peak. In the Case-Shiller release yesterday, the seasonally adjusted National Index (SA), was reported as being 43% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 8.5% above the bubble peak (and historically there has been an upward slope to real house prices).  The…