Average Wage Index: the average wage index represents the net disposable income averaged for those over 18 years of age in Spain. The values are normalized to the IPVVR of 1999, with an initial value of 51.
Case-Shiller housing index (or IPVVR in Spain): the index is constructed using data from those homes that have been sold at least twice within the study period, using information from the same units at two points in time.
Housing affordability index (Base 100=1999), Spain: it considers income growth against housing, inflation and mortgage rates growth.
Wage disconnection (in percentage): if the value equals 30, it means that wages must increase by 30% to match the ideal wage.
Data sources
Household disposable income (Saldos contables > Hogares e Instituciones > Renta disponible neta): Link
Household savings (Saldos contables > Hogares e Instituciones > Ahorro neto): Link
Mortgages (Results > Annual > National results and by Autonomous Community > Mortgages constituted, over the total properties, by nature of the property > Dwellings): Link
Population according to INE (range of used population was that over 18 years old > Data used is from January 1st of the current year): Population consolidated
Housing prices based in the Case-Shiller housing index, in Spain also known as IPVVR (the index is calculated by the Registradores de España, we used the yearly average value of IPVVR aritmético suavizado)Link
Inflation data (Table: average inflation Spain (CPI) - by year): Link
Mortgages constituted according to interest rate, Bank of Spain (Tipo medio de los préstamos hipotecarios a más de 3 años para adquisición de vivienda libre > Del conjunto de entidades de crédito): Link
