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> In other words: Houses are still way cheaper, in actual out-of-pocket terms for average people, than they were in 2008 False. Actual average people are makin
by inetknght 5y ago
> In other words: Houses are still way cheaper, in actual out-of-pocket terms for average people, than they were in 2008
False. Actual average people are making significantly less today than they were in 2008. Their buying power is therefore also significantly less too.
- dlp211 5y agoUm, no: https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N Median household income is greater than it has ever been.
- belter 5y agoWhat matters is the Housing Affordability Index, not income levels. Houses prices might rise in price more than income plus it needs to be in the area where you live/work. See my post in this thread.
- dlp211 5y agoBut that wasn't the claim I was addressing: > Actual average people are making significantly less today than they were in 2008. This is simply not true. Median household income is greater today than any time in American history in real terms. There can be other reasons that homes are not affordable, but the average person making less than in 2008 is not one of them.