I bought my first condo at 5x my salary and 50% of my wage in 1989

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Apr 16, 2023
8:07:00am

Acorn Truly Addicted User

I bought my first condo at 5x my salary and 50% of my wage in 1989

My dad bought his first house for 1X his salary and 10% of his wage. There’s my anecdotal evidence to add to yours since we don’t want to consider comprehensive data.

Life is hard. You can either be grateful and enjoy it or whine and be miserable.

This message has been modified

Originally posted on Apr 16, 2023 at 8:07:00am

Message modified by Acorn on Apr 16, 2023 at 8:14:29am

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Acorn

Bio page: Acorn
Joined: Nov 25, 2004
Last login: Sep 20, 2024
Total posts: 19,417 (2,342 FO)

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Messages

Author

Time

Between 1943 and 1983, home prices went up significantly and interest rates

Acorn

4/16/23 7:13am

Palm Jumeirah Would like a word.

Sea Chicken

4/16/23 7:20am

China keeps finding undiscovered but ancient islands all the time.

panacablue

4/16/23 7:29am

What's are the median income/median house price ratios from 43, 83, and today?

vagabonder

4/16/23 7:21am

Per sq ft it’s about the same. But houses are much bigger now

Skeptical Optimist

4/16/23 7:22am

Source

vagabonder

4/16/23 7:25am

RE: Source

Skeptical Optimist

4/16/23 8:41am

Your own study found that housing now is more expensive per square foot after

vagabonder

4/16/23 8:59am

Housing is about 10% more expensive to get twice the amount of space

Skeptical Optimist

4/16/23 12:30pm

Do you know what a PC cost relative to wages in 1975? How about

Acorn

4/16/23 7:32am

RE: Do you know what a PC cost relative to wages in 1975? How about

vagabonder

4/16/23 7:44am

I see you still haven’t googled the home affordability index.

Acorn

4/16/23 7:48am

Yeah, I know what it is. It's based on minimum payments every month and interest

vagabonder

4/16/23 7:59am

I bought my first condo at 5x my salary and 50% of my wage in 1989

Acorn

4/16/23 8:07am

How much time have you spent whining today about how tough life was for boomers

vagabonder

4/16/23 8:15am

A rebuttal isn’t whining. I am barely a boomer. Stereotyping doesn’t enhance

Acorn

4/16/23 8:25am

He did discuss the comprehensive data. His point was that reducing the combined

4/16/23 8:16am

PCs didn't cost anything in 1975. Try to beat that price.

Les IsMore

4/16/23 10:26am

I pulled this data around COVID time and found this to be true.

YOHONOMOTO

4/16/23 7:53am

Location, location, location. My grandpa bought a house in Orange County, CA on a cop salary. That house is close to $2M

Odysseus

4/16/23 7:55am

In the 1700’s you could get Socal beach property for $5. One years salary as a

Acorn

4/16/23 7:57am

Unless Thanos shows up, each generation is going to have a worse real estate situation than the previous one. It seems

Odysseus

4/16/23 8:10am

I think house affordability index is a relevant statistic.

Acorn

4/16/23 8:24am

Look at the affordability index by region though, and where people want to live. The Midwest and south are the only

Mike Honcho

4/16/23 8:32am

Fair enough. No one wanted to live in Utah 40 years ago. Now California prices

Acorn

4/16/23 8:45am

Populations growth is becoming less and less inevitable by the year, especially

Pepe

4/16/23 8:19am

We can also build land too!

JohnnyC

4/16/23 8:00am

Osaka international airport in Japan is on a man made island. Large area in

NYC and Japan

4/16/23 1:01pm

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