The Importance of Extrapolating Median House Values

A report by Aussie homelands argued that it was an extrapolated median house values by 2043 for Australia and for all the capital cities. But if you assume a 3% annual wage growth to 2043, a median Sydney value of $6.349 million implies a price to income ratio of 26x. Now in a world of 19 uncertainty, I can't say that's not going to happen, but it feels pretty implausible to me.