2 ms·

It'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:

It'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 ago
You 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...
- NDizzle 4y ago
  "2022 interest rate: 0.08%" that's not true for 2022 as a whole. Did you mean 2021?!
- 93po 4y ago
  Mortgage rates were around 8% in 1999. They're about 6% now. But it's also a moot point because it doesn't make housing any more affordable when the offset is higher house prices.
gwright 4y ago
I wonder what the square footage of those median homes were in 1999 vs 2022.