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Surely it makes no sense to compare the median home price to the lowest paying jobs? We don’t really expect people who earn the least to be buying the median ho
by zeroonetwothree 6y ago
Surely it makes no sense to compare the median home price to the lowest paying jobs? We don’t really expect people who earn the least to be buying the median house. (And it’s silly to think that 100% home ownership is some kind of ideal, it has a lot of negative consequences so we’re better off with many people renting).
This claim would be stronger if you compared to the bottom 10% of housing, say.
- justinator 6y agoNot sure what the housing market is where you live, but you can't get a house here, unless you make an offer 35% over asking and have cash on hand. Could you get a house for < million? Perhaps but it'll be "a fixer upper" to put it humorously. You're more likely looking at a trailer, and those have 5 year waiting period.
- rsj_hn 6y agoYou understand that this is very unusual right? I mean, mere seconds of googling can show you that the average house price in the U.S. is about 270K, not 570K, and the average purchase price is not 35% over-asking unless there is a sudden epidemic of people under-asking and misvaluing their own homes.