VetoThat & Kettle1 Collaborated Research
NJ Home Price to Income Ratio 10 •
1980’s HPI/Income ratio saw a decline of about 40% from peak to bottom. It fell to approximately its pre- bubble value
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The 2000’s bubble saw an 80% increase in HPI/Income Ratio (1996-2007) and would have to drop approximately 60% from its current value to return to the pre-bubble value.
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Note that the HPI/Household income ratio Mirrors the data available for NJ Median Home Price/Median Household Income
9 8 7 6 5 4
NJ HPI (Real) / Real NJ Median Household Income Median NJ Home Price (Real) / Real NJ Median Household Income
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
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