If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to a new research
by cnbc_official
If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to a new research
by cnbc_official
11 comments
That is depressing to know
That’s what happens when you run out of building lots….also what was a typical house in 1963
One bathroom with no insulation and single pane windows.
Yup. Sucks to be us.
This is a big part of the reason the inflation figures are totally out of line with actual cost of living.
It’s not just housing: tuition and healthcare both outpace inflation.
The (de)inflation of TVs and other non-necessities keeps the figure down.
But I need to pay for housing and healthcare to stay alive, and tuition is necessary for any job that isn’t poverty wage. I don’t need to buy a new TV every year.
Everyone sees their actual costs go up twice the rate of inflation, and then the media runs stories saying people are too dumb to realize the economy is actually good. Most people are going to compare their living standards to their parents, or grandparents and realize how much worse things are. Who is ignoring their own experience and just mindlessly buying the government’s numbers?
Once FDR was gone, congress allowed the capitalist to use [capture] the govt. to get the FDA to increase the guaranteed amount on the typical FHA 30 year fixed rate home mortgage.
Didn’t start out at 30 years but sure as hell had to get there to do what, to finance capitalist homebuilding greed.
It has gotten so bad that the FHA is now offering to stake loans up to $900,000. Talk about capitalist capture of govt.
175k is about what most people can actually afford so this makes sense.
They’re also nearly 1k sqft bigger with 3 car garages. An issue that isn’t getting addressed in these discussions is development cost. Municipalities need to make infrastructure affordable. You can’t put 1100sqft houses on 10k sqft lots with 8′ setbacks up
This ignores that they are twice the size with 2 car garages and higher building standards now. The issue is supply of smaller homes and healthy demand for bigger ones.
Gee, it’s almost as if something other than inflation is increasing home prices (*cough*Blackrock*cough*, I should get that checked out…)
$412,778 is the median now.