Here’s how much housing prices have skyrocketed over the last 50 years
CNBC, June 23, 2017
Life really is more expensive for you than it was for your parents and grandparents.
If you want to buy a house this year, you may well be paying around $199,200, the median price for a home in the U.S.
That number might be lower if you if live somewhere like Ohio or Michigan, but if you happen to reside in a large coastal city such as New York or San Francisco, that number will be a lot higher. In fact, it could cost you well over $1 million to purchase a home.
Houses weren’t always this expensive. In 1940, the median home value in the U.S. was just $2,938. In 1980, it was $47,200, and by 2000, it had risen to $119,600. Even adjusted for inflation, the median home price in 1940 would only have been $30,600 in 2000 dollars, according to data from the U.S. Census.
Home values are outpacing inflation, making it nearly impossible for new and young buyers to enter the market.
Dramatically higher prices are partly why the typical homebuyer is now 44, whereas in 1981, the typical homebuyer was 25-34.
In 2016, home prices rose twice as fast as inflation. And in nearly two-thirds of the country, housing price growth exceeded wage growth. In places like Manhattan and San Francisco buyers would need to fork over between 95 and 120 percent of their average paycheck to afford a mortgage payment.
Здешние политиканы, «эксперты», подконтрольные ЦРУ СМ»И» нахваливают псевдодемократическую, якобы процветающую Америку.
Те, кто любит «наших американских (государственных) партнеров», «забывают» о грязных, злых уродах США. О таких, как коварный и крайне опасный мошенник, расист, лжец, неофашист и убийца Дональд Трамп. И о таких, как порочный Конгресс, кровавые милитаристы США, нацистские ФБР — ЦРУ, лживые американские СМ”И”…
Арнольд Локшин, политэмигрант из США