3 ms·

I agree with the sentiment, but what was the median house price v. the average?

noasaservice 4y ago
A median is one such average. By wanting to know the mean or the range shows that you're trying to cherrypick the result you want. > The average house sold in 1946 cost 1.75X. The median salary was X. > The average house sold in 2022 cost 7.33Y. The median salary is Y. Its clear from all the communications, unionizations, Great Resignation, and more that wages are completely broken. And that above shows what it looks like. We're one of the lucky ones. We're finalizing our recent house purchase. First time homebuyer. $375k , which was at the top of our budget. I make $150k, which is still a 2.5 factor differential... Which is .75 ABOVE what it would have been in the post-war boom 1946. Im in my 40's, and its taken me 20+ years to actually get enough of a footing to even look at a proper house. I feel immensely sad for all younger. Can't afford a $600/mo mortgage so they're stuck with $1000 rents. Loans are for people to borrow money when they don't need money.
- xur17 4y ago
  > A median is one such average. By wanting to know the mean or the range shows that you're trying to cherrypick the result you want. I think GP is just trying to make sure we're comparing apples to apples. To me it almost comes across as you cherry picking data (average house price vs median salary).
  - MisterBastahrd 4y ago
    It's just the data that's available. The median house price so far this year is over $390K, by the way. The earlier value was for last year.
    - kitten_mittens_ 4y ago
      Q1 of 2022 is just shy of $430K according to the St. Louis Fed.
  - kitten_mittens_ 4y ago
    That's where I was going, yeah. https://fred.stlouisfed.org/graph/?g=OBTh https://fred.stlouisfed.org/graph/?g=OBTh only has data for median house prices from 1963, and household income from the mid '80s. The spread growing isn't heartening.

A median is one such average. By wanting to know the mean or the range shows that you're trying to cherrypick the result you want. > The average house sold in 1946 cost 1.75X. The median salary was X. > The average house sold in 2022 cost 7.33Y. The median salary is Y. Its clear from all the communications, unionizations, Great Resignation, and more that wages are completely broken. And that above shows what it looks like. We're one of the lucky ones. We're finalizing our recent house purchase. First time homebuyer. $375k , which was at the top of our budget. I make $150k, which is still a 2.5 factor differential... Which is .75 ABOVE what it would have been in the post-war boom 1946. Im in my 40's, and its taken me 20+ years to actually get enough of a footing to even look at a proper house. I feel immensely sad for all younger. Can't afford a $600/mo mortgage so they're stuck with $1000 rents. Loans are for people to borrow money when they don't need money.

xur17 4y ago
> A median is one such average. By wanting to know the mean or the range shows that you're trying to cherrypick the result you want. I think GP is just trying to make sure we're comparing apples to apples. To me it almost comes across as you cherry picking data (average house price vs median salary).
- MisterBastahrd 4y ago
  It's just the data that's available. The median house price so far this year is over $390K, by the way. The earlier value was for last year.
  - kitten_mittens_ 4y ago
    Q1 of 2022 is just shy of $430K according to the St. Louis Fed.
- kitten_mittens_ 4y ago
  That's where I was going, yeah. https://fred.stlouisfed.org/graph/?g=OBTh https://fred.stlouisfed.org/graph/?g=OBTh only has data for median house prices from 1963, and household income from the mid '80s. The spread growing isn't heartening.