7.3% in 1971, 12.9% in 1979

Jul 16, 2022
5:29:52pm

bluecougar1985 All-American

Historical Mortgage Rate Trends | Bankrate

Historical mortgage rate trends can give you a sense of how economic conditions influence the rates available on the market today.

https://www.bankrate.com/mortgages/historical-mortgage-rates/

This message has been modified

Originally posted on Jul 16, 2022 at 5:29:52pm

Message modified by bluecougar1985 on Jul 16, 2022 at 5:30:05pm

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bluecougar1985

Bio page: bluecougar1985
Joined: Dec 10, 2015
Last login: Sep 20, 2024
Total posts: 16,621 (1,673 FO)

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Messages

Author

Time

Housing is actually cheaper now than it was 50 years ago

Skeptical Optimist

7/16/22 2:35pm

Stop looking at stuff in terms of pre and post-inflation dollars and compare percentages.

OPINIONS

7/16/22 2:38pm

Stop looking at stuff in terms of percentages and compare sq footage, amenities,

Abe Froman

7/16/22 3:17pm

It’s absolutely not.

Bill Moore Esq

7/16/22 2:39pm

It absolutely is!

HighHorse

7/17/22 9:06am

<< Deleted >>

OPINIONS

7/16/22 2:40pm

Sounds like you agree with me

Skeptical Optimist

7/16/22 3:06pm

I’d give them a quote.

bluecougar1985

7/16/22 3:16pm

You’re not validating their pain. Therefore, you must be cancelled.

Cougarclaw

7/16/22 2:43pm

Now compare median house prices with median income from the same years.

Radioactive Coug

7/16/22 2:45pm

Plus increased college and pregnancy costs. The family starter pack isn't cheap.

vagabonder

7/16/22 2:49pm

1,000 times this!

Bad Plus Fan

7/16/22 2:49pm

Median household income in 1973 was $12,051 which is about $84k today.

Skeptical Optimist

7/16/22 2:51pm

Where are you getting the median household income figure?

allaboutthegainz

7/16/22 2:52pm

The census

Skeptical Optimist

7/16/22 2:54pm

And the 2022 figure? $88k seems extremely high.

allaboutthegainz

7/16/22 2:55pm

Idk maybe not for a household. But now both spouses work.

JuicyJam

7/16/22 2:57pm

The first link that came up on Google

Skeptical Optimist

7/16/22 2:58pm

It’s not. Average will be higher than median when looking at income figures.

allaboutthegainz

7/16/22 2:59pm

Of course

Skeptical Optimist

7/16/22 3:04pm

Also, you evaluated price per sqft per person but not income per person working.

Araujofan

7/16/22 4:25pm

So the comparison would be that houses are about 4.8x income now vs only 2.9x in 1973. Seems relavant.

Radioactive Coug

7/16/22 5:16pm

Right, but that's pretty much the point of my post. The $ per square foot cost

Skeptical Optimist

7/16/22 5:37pm

Ok. That's certainly relavant as well.

Radioactive Coug

7/16/22 5:48pm

List price or monthly cost? That’s also relevant

molodyets

7/16/22 5:59pm

True. That's just list cost.

Radioactive Coug

7/16/22 6:25pm

Good points

JollyGreenGiant

7/16/22 2:45pm

This is a steamy pile of yewt…

LumberCoug

7/16/22 2:49pm

You’re not factoring in location though. New developments today are typically in

Odysseus

7/16/22 3:07pm

All reasons why it's really hard to make an apples to apples comparison on

Skeptical Optimist

7/16/22 3:19pm

Who would’ve thunk it? We have a White House press secretary on the board.

Sparkling Delirium

7/16/22 3:12pm

Houses have gotten much bigger now but property sizes have gotten significantly

elmerfudd

7/16/22 3:20pm

Acre lots are still affordable in places people don’t want to live. There are

Abe Froman

7/16/22 3:35pm

And interest rates?

molodyets

7/16/22 3:50pm

7.3% in 1971, 12.9% in 1979

bluecougar1985

7/16/22 5:29pm

Problem is, you can't find houses that small as often now. But I agree, we need

runnincoug

7/16/22 4:27pm

That's because the market demand is for bigger homes. Builders are building the

Skeptical Optimist

7/16/22 5:39pm

The market demand is for affordable housing, but that's not always profitable

runnincoug

7/16/22 7:02pm

Location, location, location.

Powerbait DPM

7/16/22 8:43pm

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