Katharina Knoll, Moritz Schularick and Thomas Steger discuss data on long-run house price trends in Vox. House-price-to-income ratios have risen after World War II. Rising land prices played a crucial role.
This is their figure 2:
Katharina Knoll, Moritz Schularick and Thomas Steger discuss data on long-run house price trends in Vox. House-price-to-income ratios have risen after World War II. Rising land prices played a crucial role.
This is their figure 2: