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> This sentiment strikes me a lot more as people in their 20's complaining that they're poor because they don't have the financial resources of someone in their
by micromacrofoot 1y ago
> This sentiment strikes me a lot more as people in their 20's complaining that they're poor because they don't have the financial resources of someone in their 40's, despite having more resources than the latter did at their age.
Home prices have doubled over the past 20 years, twice the rate of income increases
This isn't just "complaining"
- prewett 1y agoThere's been 65% inflation over the past 20 years, so to properly compare housing prices you need to multiply the 20 years ago price by 1.65. A house that doubled in price in twenty years only increased by 20% in terms of actual purchasing power (2.0 / 1.65). [1] https://www.usinflationcalculator.com/ https://www.usinflationcalculator.com/
- ValentinPearce 1y agoAre wages indexed on inflation ? If they increase slower, wouldn't that mean the 20% increase represents more than that ?
- micromacrofoot 1y agoHousing prices doubling accounts for inflation. In 2000 a median house would cost 3x the median income, in 2025 it's 6x (and in some cities, 8x or more) Affordability has changed, it's well documented fact. This isn't napkin math or whinging.
- BlackjackCF 1y agoI’ve seen homes double in price in some areas just during Covid
- esafak 1y agoAs people fleed from even more expensive cities since they could now work remotely.
- micromacrofoot 1y agonot the whole story, housing prices also increased in more expensive cities