The following chart shows the median sales price for new houses sold divided by the average hourly earnings of private production and nonsupervisory employees. The result shows the number of hours the average production and nonsupervisory employee would need to work to pay for the median new house with cash.
Click to enlarge.
The exponential trend in red failed big time, not that many seem to notice or care. So what happened to the missing 1,400 hours of labor in September (in order to stay on the unsustainable exponential trend)? Well...
Seriously. As seen in the chart, didn't we already go through this once? Housing bubble? Hello?
St. Louis Fed: Custom Chart
The Market Ticker - Cops and Cameras: The Answer Is Yes - I have often opined on the utter necessity of equipping *all* police officers with body cameras *that must be on any time the officer is interacting with...
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