The street I grew up on is now filled with homes that have multiple unrelated people sharing, a lot of Asian multi-gen

Oct 16, 2024
9:49:17am

SingleStrapBackpack All-American

households, etc. Basically people afford them by having numerous incomes represented by the people living there. In many cases the arrangements are in violation of zoning laws but nobody enforces any of that.

Report problem with this ad

SingleStrapBackpack

Bio page: SingleStrapBackpack
Joined: Mar 19, 2013
Last login: Oct 16, 2024
Total posts: 37,862 (570 FO)

Report problem with this ad

Messages

Author

Time

Crazy stat I just heard on the radio - Comparing median income to house prices in CA in 1960, 4X. Today, 11X.

Ragnar Danneskjold You know...

8:18am

Median household income I assume has risen due to more dual income households

cmoney

8:21am

Which even exacerbates the issue.

Ragnar Danneskjold

8:23am

An ironic result of feminist and women in workplace movement is that it

Gustav

8:25am

That's the single biggest driver of inflated house prices since 1980

Skeptical Optimist

8:26am

It's created a massive distortion

materialized

9:22am

More people (or households). Period. Fighting for homes in prime locations

NYC and Japan

10:07am

Read that the increasing divorce rate = more households = higher demand as well.

seacougar

10:23am

Yup and... increased wealth has driven demand for 2nd, 3rd, and 4th homes... as well as more parents helping with $$$$

HarlemCoug

10:32am

so if I bought my first house with my primary income,

Pangare

10:36am

100% this. It almost feels required to have both spouses work now.

TriForce

12:42pm

Income to house price or house price to income?

IdahoCoug

8:23am

I'm going to let you sit down with a pencil, paper, and calculator and figure that out.

Ragnar Danneskjold

8:24am

I'm glad my income is 11x the cost of my home, life would be rough at only 4x.

Cru Jones

9:51am

OP was the one who specifically listed them in the order "median income to house price," not me.

IdahoCoug

10:55am

I've met several people whose parents moved from Utah & Idaho

gopman

8:34am

I hear about people leaving California, but I wonder who is buying their homes?

cmoney

8:52am

Immigrants and smaller households

Himni

9:33am

The street I grew up on is now filled with homes that have multiple unrelated people sharing, a lot of Asian multi-gen

SingleStrapBackpack

9:49am

That was my parents

SingleStrapBackpack

9:47am

But, but, but THE INTEREST RATES WERE 17%!!&!!!

scootsy

8:38am

That's actually a pretty relevant factor I didn't think of.

Ragnar Danneskjold

8:42am

FYI - In 1960 they were around 3 or 4% It was the 1980's when there was

Acorn

8:52am

our minimum requirements for a house have also skyrocketed

Cougarclaw

8:52am

True too, similar to our current cars vs the cars in the 60's.

Ragnar Danneskjold

8:54am

The square footage has gone up by a lot, and the number of people living in a household has gone down

Skeptical Optimist

8:55am

Yep. I grew up in a house 2/3 the size with 2 1/2 times the people compared to the one I currently live in. Our house

Byron McNertney

9:44am

House size and lot size are also dramatically bigger. Price per square foot is

NYC and Japan

10:11am

Lot size is dramatically bigger?

Schultz is back

11:32am

Houses are 57% larger than in 1980

Posting on CougarBoard