Quote:
Originally Posted by Run Silent
Nope.
With exception of certain markets where housing has gone insane, overall as a country, home prices per square foot are actually cheaper today than they were 50 years ago, when adjusted for inflation.
Bottom line - it costs less to buy a home today than it ever has in modern history in the United States. People are just choosing to buy nicer and larger homes than they should be buying.
Not the fault of the costs of home ownership - the fault of people today making dumb ass financial decisions.
https://www.aei.org/carpe-diem/today...last-40-years/ |
The problem is these "certain markets" seem to be more plentiful than a normal market (I don't know if the real # is actually higher than let's say a midwest area where a mcmansion cost what a basic hoise by me would cost, but you get my point) So it is not that cut & dry.
Same with rent cost. $1500-$2k for the new blah apts being built around here as we speak. No wonder no one can save any $