SEATTLE, WA – A groundbreaking new report released Tuesday by the Institute for Obvious Economic Realities (IOER) has definitively concluded that affording a home in Seattle now demands an annual income exceeding $180,000. This figure, researchers noted, is roughly what a mid-sized tech company allocates for its quarterly kombucha budget.

“Our sophisticated algorithms, which primarily involved looking at Zillow and then weeping softly, indicate a significant disconnect between average wages and the cost of a dwelling that isn’t also a public transit stop,” explained Dr. Evelyn Price, lead economist for the IOER. “We were particularly struck by how many people earning under six figures expressed difficulty in purchasing a property that costs more than their entire extended family’s life savings.”

The study also highlighted that the median home price in Seattle has reached a point where it is now statistically more affordable to purchase a fully-equipped yacht and live in international waters. “At least with a yacht, you get a view,” added Price, noting that the average Seattle homeowner’s view is typically another Seattle homeowner’s increasingly expensive wall.

Local real estate agent Chad 'The Closer' Peterson, who recently sold a detached garage for the price of a small European castle, welcomed the report. “It’s good to have the data confirm what we’ve been telling clients for years: if you don’t have a patent on a revolutionary new algorithm or a trust fund from a minor royal family, perhaps consider a tent with a really good Wi-Fi signal.”

Experts predict the next study will confirm that water is wet and that breathing in Seattle is still, for now, free.