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>4) In spite of that, the median American household needed only 2x their salary to buy the median house. That number is 5x today, and after taxes the ratios are
by gruez 2mo ago
>4) In spite of that, the median American household needed only 2x their salary to buy the median house. That number is 5x today, and after taxes the ratios are 2.2x then vs 6x today, when two adults are often working rather than one.
Sources for these numbers? Also, housing is only a fraction of your costs.
- janalsncm 2mo agoMedian income of household was $3300 table A https://www.census.gov/library/publications/1952/demo/p60-009.html https://www.census.gov/library/publications/1952/demo/p60-00... Median house $7300 https://better.com/content/how-much-home-prices-have-risen-since-1950 https://better.com/content/how-much-home-prices-have-risen-s... Today ratio is 5.1 https://housingalmanac.com/affordability https://housingalmanac.com/affordability
- s1artibartfast 2mo agoThat house was probably less than 2/5th of a modern house You can get a 500sqft in podunk small town for quite cheap. They weren't living in modern glass skyscrapers.