3 ms·
These summary stats mask a huge amount of regional variation. My parents bought their house in a Midwestern suburb in the early 80s for about 100k, or 270K toda
by danans 5y ago
These summary stats mask a huge amount of regional variation. My parents bought their house in a Midwestern suburb in the early 80s for about 100k, or 270K today. The house is worth 300k today, a 9% increase over 40 years. Meanwhile my West Coast home in has increased in value 33% in the 10 years I've owned it accounting for inflation, or 250% since it was built in the late 1990s.
My parents house is a small fraction of their assets while my house is a significant portion of mine. Likewise my mortgage payment is a much larger chunk of my income than theirs ever was.
- cableshaft 5y agoMy Midwestern suburb home has gone up in value about 33% in the 4 years I've owned it (accounting for inflation, without taking it into consideration it's gone up ~50%), so yeah, very regional.
- danans 5y agoEven sub-regional. Hip second tier Midwestern cities have probably appreciated considerably more than my parents' aging first ring Midwestern suburb.