There’s only been three home-price bubbles in U.S. history over the last 70 years.
Today, with a Home Price/Income Ratio of 4.33x
Back in 2006, when it hit 4.45x.
And post WW2, when it hit 5.00x.
In the previous two cases, the bubble and lack of affordability didn’t last long.
After 2006, prices crashed shortly thereafter, restoring the Home Price/Income to normal levels (below 3.5x).
Meanwhile, after WW2, home prices stopped growing for a decade, while incomes surged 5-10% per year. Pushing the Value/Income Ratio below 3.0x, to its most affordable level ever.
Indicating that there are two sides to the affordability coin: prices, and incomes.
Check Value/Income for your ZIP on Reventure Premium now: https://reventure.app/map?geo=county&datapoint=home_value_to_earnings_ratio
There's only been three home-price bubbles in U.S. history over the last 70 years.
Today, with a Home Price/Income Ratio of 4.33x
Back in 2006, when it hit 4.45x.
And post WW2, when it hit 5.00x.
In the previous two cases, the bubble and lack of affordability didn't last… pic.twitter.com/iqNEVpg5rc
— Nick Gerli (@nickgerli1) September 3, 2026
The scary part isn’t just that we’re near 2006. It’s that housing has basically two ways out: prices come down, or incomes catch up. The second one happened after WWII, but I wouldn’t count on incomes suddenly growing 5 to 10% a year again.
The US housing market is crashing and I’m tired of people pretending it’s not. The signs are everywhere. https://t.co/8g71ta575e
— Eric Spracklen 🇺🇸 (@EricSpracklen) September 4, 2026
A week ago the market gave a September Fed hike a 37% shot. Now it is near 70%.
That repricing in fed funds futures is the engine behind rising Treasury yields.
The trigger is oil. The Iran war is pushing crude higher and the Fed is lining up to hike into it. Rate hikes do not… pic.twitter.com/jDhuPvMps7
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 4, 2026