Jul 16, 2022
3:07:46pm
3:07:46pm
You’re not factoring in location though. New developments today are typically in
less desirable locations compared to 1973. So you have a bunch of homes today in places like Riverside, CA or Payson, UT that didn’t exist back then. Those affordable homes keep median prices in check, but it’s an apples-to-oranges comparison.
The home my dad grew up in in Orange County, CA (on my grandpa’s single income with the LAPD) was out of reach for my dad when he became an adult. Likewise, the home I grew up in in Draper, UT is out of reach for me today.
I guess that’s just part of life though and people should realize that a growing population means more demand (and higher prices) for desirable places to live.
The home my dad grew up in in Orange County, CA (on my grandpa’s single income with the LAPD) was out of reach for my dad when he became an adult. Likewise, the home I grew up in in Draper, UT is out of reach for me today.
I guess that’s just part of life though and people should realize that a growing population means more demand (and higher prices) for desirable places to live.
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7/16/22 2:38pm
7/16/22 2:45pm
7/16/22 2:49pm
7/16/22 2:51pm
So the comparison would be that houses are about 4.8x income now vs only 2.9x in 1973. Seems relavant.
7/16/22 5:16pm
7/16/22 5:37pm
7/16/22 2:45pm
7/16/22 2:49pm
7/16/22 3:07pm
7/16/22 8:43pm