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If 1,500 SF homes cost more now than they did in the 70s, how is the average person affording 2,700 SF homes today? And low end AC & Dishwashers can be had for
by valuearb 6y ago
If 1,500 SF homes cost more now than they did in the 70s, how is the average person affording 2,700 SF homes today?
And low end AC & Dishwashers can be had for only a few thousand dollars NOW. Back in the 70s the cheapest ones were still expensive enough to require an upper middle class income.
- skohan 6y ago> how is the average person affording 2,700 SF homes today? They're not. Home ownership is currently at about the same level it was in the 90's, declining from a boom in the 2000's driven by sub-prime lending, but if you look at generational differences, everyone younger than baby boomers is basically owning homes at much lower rates. https://journal.firsttuesday.us/bad-news-for-tomorrows-homeownership-rate/50222/ https://journal.firsttuesday.us/bad-news-for-tomorrows-homeo...
- valuearb 6y ago2014 was six years ago after a sharp recession. Current home ownership is near all time highs. https://www.census.gov/housing/hvs/files/currenthvspress.pdf https://www.census.gov/housing/hvs/files/currenthvspress.pdf So why is the average home size nearly double the size in the 70s?