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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Friday, 11-Jun-2021 23:02:44 EDT lnxw48a1
   Federal Reserve Bank of St Louis: housing purchase prices appear overvalued relative to rental prices https://www.stlouisfed.org/on-the-economy/2021/may/housing-prices-surpass-bubble-peak-measure-value [www stlouisfed org]
   
   #StLouis #TheFed #Federal_Reserve #housing
   1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Saturday, 12-Jun-2021 11:38:06 EDT lnxw48a1

      in reply to
      I think a more relevant figure would compare each area’s median home price (with some sort of price distribution) with the local median income (and an income distribution).
      
      For example, I know that the 1975 federal minimum wage was right on the line for qualifying to buy the average new home at the time. In 2021, one wonders whether the federal minimum wage is high enough to qualify to buy a used car that is in good enough condition to commute to work for a year.
      1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Saturday, 12-Jun-2021 11:46:47 EDT GeniusMusing

         in reply to
         While not localized I wrote about this already, except for the car.
         https://geniusmusing.com/posts/archives/04-52-AnotherCaseFor15.php