Home Ownership

[Jibartik]

Originally Posted by derpcake2 [You must be logged in to view images. Log in or Register.]

Why are these people making 15$ an hour?

Isn't that what a burger flipper with some experience makes?

Thought we were discussing gainfully employed people here.

Well keep in mind you picked 1975 which had higher interest rates than 1960-1974 due to a recession, so we're not doing like real deep science here. Interest rates were 4% in 1972.

The median home price in this country in 2021 is $758,990

The median salary is 75k That is, the most average home in this country is 10x the average salary.

Median home prices were 2-4x the average salary with similar interest rates to todays (discounting our covid interest rates we have at this very moment that went up today mind you).

In populated areas home prices can be 25x the median home value, making home prices in populated areas 15, 20, 30 times the salaries of the people that live there. Salaries for the same jobs are not 15 times larger in San Francisco than they are in Atlanta.

Simply put, the system we have had, has created a incredibly tense situation, that can be seen throughout our daily lives in this shit hole country.

I love my home. But it cost way too much.