Texas’ median home price typically increases about 4% per year, bUt has increased 24% between 2012 – 2014 and may show that much increase in 2015.  During the same period, Texas nominal household income rose just 11.2%, less than half the ratE of increase of the median home price.  This  shows a widening gap between home price and nominal household income, so a decline in the affordability of Texas homes.  As the gap widens, households are forced to pay a higher multiple of income for home.  MORE TO COME!