While prices vary wildly from city to city and type to type, I'd like to show you the King County price index that shows the trend in housing prices since 1975. https://fred.stlouisfed.org/series/ATNHPIUS53033A
The 14% mortgage rates came in part from the law of small (big) numbers. 14% of $35,000 is not that much money compared to 3% of 700,000
Agreed. I think it is lazy to look at the rise in real income and not look at the rise in real expenses and decline in stable, non-precarious employment.
Is that measured on a monthly or yearly basis? Are those incomes reconciled with increases of cost of living? You should compare workforce participation from 1999 and 2021, and you should compare savings rates by age…
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back…
While prices vary wildly from city to city and type to type, I'd like to show you the King County price index that shows the trend in housing prices since 1975. https://fred.stlouisfed.org/series/ATNHPIUS53033A
The 14% mortgage rates came in part from the law of small (big) numbers. 14% of $35,000 is not that much money compared to 3% of 700,000
Agreed. I think it is lazy to look at the rise in real income and not look at the rise in real expenses and decline in stable, non-precarious employment.
Is that measured on a monthly or yearly basis? Are those incomes reconciled with increases of cost of living? You should compare workforce participation from 1999 and 2021, and you should compare savings rates by age…
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back…