Even though home prices have increased, the median price to income ratio in America makes housing look cheap compared to much of the developed world.
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As you can see, America’s 4x ratio is below all the other countries listed. It’s notable that America is a wide-open country with plenty of land.
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It’s nothing like Israel, Japan, and much of western Europe. America is closer to Australia and Canada which still have higher ratios. Both are known for their housing bubbles though.
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The reality for people from on emerging markets is even more difficult.
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Just a reminder that everything is a matter of perspective.
