Make America’s Housing Affordable Again
by Randal O’Toole — Fifty years ago, housing was affordable everywhere in the country. The 1970 census found that the statewide ratio of median home prices to median family incomes was greater than 3.0 only in Hawaii (where it was 3.04). Price-to-income ratios were under 2.5 in every other state, and under 2.2 in California, New York, and other states that today are considered unaffordable.