Following up on CalculatedRisk's recommendation I have built this chart of home price to median income for different states and cities. Quite a bit of datacrunching. I used the following sources:
Median Income in Current Dollars:
http://www.census.gov/hhes/www/income/histinc/h08.html
For 2008 I grew 2007 incomes by 2%.
Home Prices:
http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_History_022445.xls
Charts and data available for review if needed!
What's going on in Portland?
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