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Note that most people currently paying a mortgage has not bought at current prices. And with the reasonable assumption that high-income households are more lik
by kgwgk 7y ago
Note that most people currently paying a mortgage has not bought at current prices.
And with the reasonable assumption that high-income households are more likely than low-income households to buy a house in any given year, we can expect the buyer of the median house to have better-than-median income.
- mikeash 7y agoIt makes more sense when you put it like that. The average mortgage holder has a 2019 salary but probably only a 2010 mortgage. (Or whatever bygone year is correct.)