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...This worked well when rents were low enough to save and homes were cheap enough to buy. In one of the most infuriating conversations I had for this article,
by SQL2219 9y ago
...This worked well when rents were low enough to save and homes were cheap enough to buy. In one of the most infuriating conversations I had for this article, my father breezily informed me that he bought his first house at 29. It was 1973, he had just moved to Seattle and his job as a university professor paid him (adjusted for inflation) around $76,000 a year. The house cost $124,000 — again, in today’s dollars. I am six years older now than my dad was then. I earn less than he did and the median home price in Seattle is around $730,000. My father’s first house cost him 20 months of his salary. My first house will cost more than 10 years of mine.
- 3pt14159 9y agoI keep saying it, but I don't really ever think it changes anything, but it is the interest rates. You can't keep interest rates at 3% for 30 years and expect things to keep working like they used to.
- mixmastamyk 9y agoAnd nimbys.