2 ms·
Remember $1M today is the same as $750K in January 2019. https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm
by xnx 4mo ago
Remember $1M today is the same as $750K in January 2019.
https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm
- bdangubic 4mo agoyes, everyone’s salary also went up by the same so comparison is solid
- some_furry 4mo agoThe "everyone" in that statement needs a citation, I'm afraid
- satvikpendem 4mo agoThey're being sarcastic
- some_furry 4mo ago[flagged]
- bdangubic 4mo agolife needs a laughter, regardless of the platform :)
- deleted 4mo ago[deleted]
- deleted 4mo ago[deleted]
- swatcoder 4mo agoThis tells you more about inflation methodology than it does home affordability.
- xnx 4mo agoYes. I meant to point out that "million dollar home" has a certain psychological meaning but it's the same as what a $750K home was just 7 years ago. Mortgage payment vs. household income is probably the best way to assess affordability.
- casey2 4mo agoNope you have to take property tax into account and the median is skewed due to prop 13
- jameshart 4mo agoThat’s California-specific
- robocat 4mo ago> Mortgage payment vs. household income is probably the best way to assess affordability. Except that effect and cause are counterintuitive. People bid against each other on houses to the limit of affordability (maximum payments). With somewhat different dynamics for existing mortgages. So house prices increase if income increases. And house prices increase if interest rates fall. And house prices increase if mortgage terms are made longer. So affordability doesn't act like you think it might, because how people compete really matters.