This news “report” compares the home price to income ratio from the past to today – but ignores that the typical home in the 1970s was 1/3 to 1/2 the size of today’s homes. When normalized for square footage, alone, let alone the many additional amenities of new homes, the difference in the ratio is surprisingly small.

But never ask a reporter to understand numbers – this has so many errors as to make it fake news: For under-40 Americans, buying a first home has never been harder

This error in real estate reporting is so common that it has become standard practice. If they cannot get this accurate, why should we trust anything they write?