Here are some charts that I made with home price data from the census bureau, data is from 2006 to 1975 and is in 2006 dollars. The trends are what is important. The homeprices are median home price and income is median household income.
Oh, home ownership went up to the highest levels every at the same time the difference between home price and income was the greatest. That sounds like a disaster waiting to happen. And that disaster is happening now.