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A comment on The U.S. Housing Boom Is Coming to an End, Starting in Dallas. Parent comment

Re:The U.S. Housing Boom Is Coming to an End, Starting in Da... by tomrod on Tuesday November 27, 2018 @09:29AM (#18542503)
Dallas median wage is $63.8k in 2016, median home prices closer to $230 to $250 depending on which town (some significantly higher). That is about 4x income, following your heuristic we should expect the median to fall a bit?
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Re:The U.S. Housing Boom Is Coming to an End, Starting in Da... by EADGBE on Tuesday November 27, 2018 @09:58AM (#18542729)
I don't like this X-Salary rule. It assumes no other large notes, which is more of what mortgage underwriters are caring about (debt-to-income ratios).

Not having two student loan payments and a couple unnecessarily-high car payments (a couple well-to-do millennials surely make possible) could certainly push your mortgage affordability much higher than someone straddle with that debt (but completely able to pay and maintain it).

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Re:The U.S. Housing Boom Is Coming to an End, Starting in Da... by tomrod on Tuesday November 27, 2018 @09:01PM (#18548662)
8 think that's why the X-salary rule is usually considered an upper bound?
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