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Median income in constant dollars in the US was about 60k 40 years ago and now is about 80k. We can buy a lot better stuff with those dollars too.
by treis 2y ago
Median income in constant dollars in the US was about 60k 40 years ago and now is about 80k. We can buy a lot better stuff with those dollars too.
- api 2y agoNow check housing prices over that time.
- treis 2y agoPeople don't buy houses by writing checks for the purchase price. They get a mortgage and pay monthly which is dependent on both housing price and interest. With a lot of hand waving that number isn't much worse than the 70s/80s because interest rates were high then. However, that's cyclical and we're in a really crappy local minima for affordability due to a rapid increase in interest rates.