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Millennials can live at home because average home size has increased. My first house, built in the late 19th/early 20th century had indoor plumbing retrofitted
by coredog64 6y ago
Millennials can live at home because average home size has increased. My first house, built in the late 19th/early 20th century had indoor plumbing retrofitted and would fit in the garage of my current house.
- mlthoughts2018 6y agoEven if that was purely true, that doesn’t say anything about relative purchasing power to afford mortgage costs though. Home sizes increasing doesn’t mean home prices, relative to purchasing power and technology changes, have stayed consistent with real wages. And it’s likely not purely true. Home sizes being larger is also a function of REITs and corporate ownership of more consumer real estate, as well as boomers using soaring retirement fund profits to finance remodels, etc. It’s way more complex than to draw any conclusion that this means purchasing power of homes has stayed close to wages. It hasn’t.