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One thing not captured in this chart is that the average house size in the U.S. has nearly tripled since the 1950's.
by jonas21 5y ago
One thing not captured in this chart is that the average house size in the U.S. has nearly tripled since the 1950's.
- nostromo 5y agoNot only are the houses much bigger but families are also much smaller. It also ignores interest rates. Unless you're paying cash, the price of a home doesn't really matter -- what matters is your monthly payment. If you bought a house in the 80s, a huge chunk of change every month went to bankers, not to principle. So the fact that you got a "cheap" house doesn't really matter, because you were still paying an arm-and-a-leg for it.
- slaymaker1907 5y agoYou are still way better off buying a house during high interest rates. While you can refinance a high interest rate away, the reverse has a lot more risky (overpay during low interest rates and try to recover cost via appreciation).