5 ms·
Property prices were affordable a 10-15 years ago. Otherwise how would we have all these middle-class families living here?
by et-al 9y ago
Property prices were affordable a 10-15 years ago. Otherwise how would we have all these middle-class families living here?
- Moto7451 9y agoThe housing bubble through the bubble bursting isn’t exactly the best example of affordability.
- et-al 9y agoI agree, but my point was that there was significant period of time when folks could and did buy houses here. Now if the parent poster had said housing stock has remained (generally) constant, I'd be in agreement on that.
- unexpected 9y agoI'm not so sure about this one. I remember visiting the Bay in 2003 and housing prices took my breath away. Now, of course, it's stupefying. I think salaries have increased dramatically since that time frame, creating the perception of relative affordability for previous years. I think the % of home price increase has been fairly constant (except for the market crash). Who knows what may happen in 10 more years! Home prices may still yet double, but then entry level SE positions may be going for 400-500k!
- ghaff 9y agoEverything is relative. One of the reasons I turned down a couple of job offers in Silicon Valley in the 1990s was because the cost of living was relatively high compared to the Northeast.