[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 137 KB, 679x495, 1697700326597206.png [View same] [iqdb] [saucenao] [google]
57297518 No.57297518 [Reply] [Original]

What would housing prices be if mortgages never existed?

>> No.57297685
File: 12 KB, 294x314, dual income households.png [View same] [iqdb] [saucenao] [google]
57297685

>>57297518
You're seeing it now - mortgage originations are at a 20 year low. Home values are roughly 4x a family's income

From 1980-1985 mortgage rates were 12-18%, this was enough to deter people from taking them out

Baby Boomers were born 1946-1954, so when they got to the ages where they wanted to buy a home (26-34), they either had to pay cash or borrow from the bank at ~15% interest

Median family income was in 1982 was 23k, median home price was 69k, so homes were 3x a family's salary

Today, median family income is 99k, while the median home price is 387k, or 3.9x a family's salary

But go on and tell us about how "Boomers" had it so easy, how they could get a McJob and raise a family in a big beautiful house on a single income, even though the percent of dual income households is lower now than it was 35 years ago

>> No.57298280
File: 515 KB, 810x793, 1701643481019248.png [View same] [iqdb] [saucenao] [google]
57298280

>>57297685
>median FAMILY income
>houses were 3x 1 salary in 1982
>they are now 4x 2 salaries
>3=8
^this is a pictograph of the kike cock in your ass, kys boomer

>> No.57298307

>>57298280
>post chart showing how dual income families are the same percentage as 30 years ago
>idiot completely ignores it and invents "facts"

You deserve to be homeless

>> No.57300025

>>57297685
>3x a family's salary
> 3.9x a family's salary

Are you suggesting that this isn't an absolutely MASSIVE difference?
What about all the other aspects of cost of living. Surely, the price of food, gas and other essentials is much higher vs average salary than it used to be.
And surely taxes are generally a lot higher, including property taxes.

>> No.57300046

>>57297685
wtf kind of bullshit propaganda is this kek

>> No.57301243
File: 112 KB, 1200x770, 1624475064000.png [View same] [iqdb] [saucenao] [google]
57301243

>>57298307
>a 35% increase in the proportion is "the same"
Moving to just using personal income because it is less retarded and more applicable to our ugly asses
Median income for full time male employment was $21,660 in 1982, so 3.3x per your numbers
In 2022, that figure was $60,060, with a median home sales price of $457k per FRED/Census.

What's 457/60?, 7.6, simply round both figures to make the funny dickinbutt emoticon again.

>> No.57302642

>>57297685
1980s house is 3x 1 persons income
now same house is 4x 2 incomes

unsure if retarded. what you just said is exactly why boomers had life on easy mode. housing as a cost is nominally double what it used to be. healthcare is 3x, education is 3x, cars are 2x.