I remember my Grand parents were saying $45k was a good salary back in 2001. If you were making that you were living good. Hell, parents apartment was $450/month.

Now $45k is poverty.

Buddy I’d be perfectly happy with a 2 bedroom ranch. But in my area they’re $300K, need a new roof, and the interior hasn’t been updated since 1970 when Dolores and her husband moved in. Now they’re old and trying to cash out of a place that isn’t worth near what the asking price is. But there’s 100 retards in line ready to pay 50K over asking just so they don’t have to pay $2,000 a month for an apartment in a megacomplex with all the other ****ing morons that moved here for some reason and also can’t find a house. And this is not some super exclusive area. I mean it’s nice but it’s not Dallas or Miami.


I can only imagine that this all comes crashing down in the next couple years. It is not sustainable in any way.

Yeah, I'm kind of old...at least for misc. My grandparents didn't have big houses, I've mostly lived in small houses, and I don't really care about having a big house either. Less now than ever, given I'm single and don't expect to have bunch of family to house.

The usual "but people had a lower of standard of living in XXXX so you can't really compare that" rubs me the wrong way.



3/2/2 brick house on my street here is around 1600 sq. ft. and was $70K new in 1990.



That doesn't sound bad, right? Except the houses aren't selling for that, they are valued around $300K.

I did see an option recently for $135K.






That price includes a leased lot [$200 per month] and set up.

Buddy I’d be perfectly happy with a 2 bedroom ranch. But in my area they’re $300K, need a new roof, and the interior hasn’t been updated since 1970 when Dolores and her husband moved in. Now they’re old and trying to cash out of a place that isn’t worth near what the asking price is. But there’s 100 retards in line ready to pay 50K over asking just so they don’t have to pay $2,000 a month for an apartment in a megacomplex with all the other ****ing morons that moved here for some reason and also can’t find a house. And this is not some super exclusive area. I mean it’s nice but it’s not Dallas or Miami.


I can only imagine that this all comes crashing down in the next couple years. It is not sustainable in any way.

3/2/2 brick house on my street here is around 1600 sq. ft. and was $70K new in 1990.




That doesn't sound bad, right? Except the houses aren't selling for that, they are valued around $300K.

I remember my Grand parents were saying $45k was a good salary back in 2001. If you were making that you were living good. Hell, parents apartment was $450/month.

Now $45k is poverty.

Yes and no.

You did well by comparing real wages. So atleast you recognize that house was 161k in todays dollars.

My theory is that for housing the actual "Cost" of the house never actually mattered. It is the monthly payment.

Back in 1990 prime rates were around 10%. Our prices are still based upon the 4% ish. (The housing marking is Drastically overpriced at current interest rates of 8%ish)

Once you throw that into the calculator you will find that the percentage of income spent on housing is only a little higher.

Fair point, though I don't believe that it tell the whole story.

About $160K w/20% down @ 10%




About $300K w/20% down @ 4%




About $300K w/20% down with the pre-set rate from the calculator




What that doesn't cover is the difficulty of saving up the down payment, or the higher fees, taxes, and insurance.

If your real wages adjusted for inflation have fallen then relatively flat mortgage payments for a higher priced asset aren't too exciting.