5 Myths About Our Land of Opportunity

[eagleseven]

I am quite confident that Toro's life now is better than his father's.

 

[Toro]

I am quite confident that Toro's life now is better than his father's.

Oh, that it is.

But I'm a highly educated professional. My cohort has benefited the most over the past few generations.

 

[garyd]

A home in 53 was 8 grand today its 200 grand a 25 fold increase Chic. No one is making 25 times what their parents and grand parents were. Ole Chris in his other thread said that most of the home sales right now were of pre existing homes. That would indicate that new home sales are still down largely because no one making much less than six figures can truly afford a house payment that goes with that.

Hell the price is five times the median income of 40k in this country.

 

[The Rabbi]

A home in 53 was 8 grand today its 200 grand a 25 fold increase Chic. No one is making 25 times what their parents and grand parents were. Ole Chris in his other thread said that most of the home sales right now were of pre existing homes. That would indicate that new home sales are still down largely because no one making much less than six figures can truly afford a house payment that goes with that.

Hell the price is five times the median income of 40k in this country.

Yes and no. Wages have lagged prices. That has been true since the 1970s/1980s.
But the average household income is probably higher as more women have entered the workforce.

 

[garyd]

My mom and dad were among the first two wage earner families. The median income for a family of four is still only forty k. A 200 k new home is just completely out of the question. you'd be close to a 1/3 of your income just for the house payment add in homeowners insurance, gas water and electric for a house that's likely a minimum of 2000 square feet, and half the median family monthly income is shot.