7 ms·
> It took a handful of years of renting cheap places (with roommates) Is this now considered unusual? I didn't purchase my own home for almost 12 years after
by gwright 4y ago
> It took a handful of years of renting cheap places (with roommates)
Is this now considered unusual? I didn't purchase my own home for almost 12 years after graduation from college. I lived at home, then with roommates, which was a completely normal thing to do at the time (1987 college graduation).
- cool_dude85 4y agoIt's more usual than ever, but living at home or with roommates still makes it very difficult to ever afford a home. Let's take a look: 1999 median home cost: $165,000; 1999 median household annual income: $42,000; 1999 home cost / annual income: 3.9 2022 median home cost: $468,000; 2022 median household annual income: $71,000; 2022 home cost / annual income: 6.6
- staringback 4y agoYou can't mention home prices without the interest rate as well. 1999 interest rate: 4.74% 2022 interest rate: 0.08% Source: https://www.statista.com/statistics/187616/effective-rate-of-us-federal-funds-monthly/ https://www.statista.com/statistics/187616/effective-rate-of...
- gwright 4y agoI wonder what the square footage of those median homes were in 1999 vs 2022.
- TedShiller 4y ago[flagged]