Quote:
Originally Posted by Jibartik
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Median mortgage 1960: $11,900
Median income 1960: $5,600
A home costs x2 your income.
Median mortgage 2018: $272,500
Median income 2018: $65,000
A home costs 4x your income.
This is why people hate boomers.
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Mortgage rate in 1975: 9%
Mortgage rate in 2021: 2.8%
Total cost when loaning 200k over 30 years:
1975: $ 561.227,64
2021: $ 294.494,44
Source
Hilarious.