Quote:
Originally Posted by NYNick
It's a crock. "Unaffordable housing" has been the norm for decades. You think your parents could afford the house they bought 50 years ago? Hardly. They scrimped and saved and clipped coupons so you could eat. Remember?
BTW, I couldn't afford my first house either, so I built one in the 70's at age 28. Was I dumb and stupid? You bet. But my gamble paid off and it's worth 10 times what I originally invested. Was I trying to make a fortune? Nah. I was just trying to afford a house.
Air cooled 911's aren't affordable either. So what? Go find another fun car you can make your own. There are literally dozens of them out there, just like there's an affordable house for everybody. It's just not on the beach.
BTW, maybe if these prospective home buyers weren't driving $60,000-$80,000 cars or SUV's, they could figure out a mortgage payment.
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this is a crock.
my parents bought my childhood home in 1983, the median income was $25,580 dollars, and the median home price was $75,300. near as makes no difference, about 3x annual income was the price of a home.
the 2022 median income was $44,225 and the median home price is $428,700
or near as makes no difference, 10x annual income.
so if my parents were scraping buy to buy a home 3x their annual income ... how are their children supposed to buy a house at 10x their annual income?
c'mon guys, this is easily googlable stuff. how can you just be so wrong?