4 ms·
Nobody cares because they can’t afford a house to live in, and family health insurance costs as much as rent. By definition the median income cannot win a bidd
by burlesona 6y ago
Nobody cares because they can’t afford a house to live in, and family health insurance costs as much as rent.
By definition the median income cannot win a bidding war for housing when there’s only enough supply available for the top 5%.
- rmah 6y agoAs of 2019, around 65% of americans own their own homes. That's down somewhat from the peak of 69% in 2004. So, far more than the "top 5%".
- I-M-S 6y agoThat 65% includes people who bought housing while it was still possible to do so without being in the top 5% of earners
- bhupy 6y agoThat's essentially only true in SF, NYC, Seattle, and maybe DC — and that can largely be attributed to local land use restrictions more than anything else. Here's a list of the salary required to afford the median home -> https://www.hsh.com/finance/mortgage/salary-home-buying-25-cities.html https://www.hsh.com/finance/mortgage/salary-home-buying-25-c... This thread breaks down the ratio of home-price-to-median-income per MSA -> https://twitter.com/jmhorp/status/1221828310000271361 https://twitter.com/jmhorp/status/1221828310000271361 There's an entire zone of "Fine, American Cities", all affordable to both Boomers and Millennials. There are dozens of metro areas you can move to, buy a home (if you like), and start saving your income.