Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not the entire picture. Housing alone makes up for any lack of inflation of other goods. Housing has always taken the lion's share of income and now it is at ridiculous numbers. In 1980 the average house value was $47k, today it is $320k. Wages in no way have kept up with that. The argument goes beyond just inflation. The market in general operates on too much of short term gains often in sacrifice to long term benefits. Plus the carnage shirt term focus leaves in its wake sometimes is horrendous. Im 100% a compassionate capitalist. Socialism/Marxism/ communism sucks, but we could use a bit more caring for all stakeholders in business practices.
How much bigger is the average home now, compared to 1980 ? Just curious.
Not the entire picture. Housing alone makes up for any lack of inflation of other goods. Housing has always taken the lion's share of income and now it is at ridiculous numbers. In 1980 the average house value was $47k, today it is $320k. Wages in no way have kept up with that. The argument goes beyond just inflation. The market in general operates on too much of short term gains often in sacrifice to long term benefits. Plus the carnage shirt term focus leaves in its wake sometimes is horrendous. Im 100% a compassionate capitalist. Socialism/Marxism/ communism sucks, but we could use a bit more caring for all stakeholders in business practices.
Have you considered that the average person lives so much longer as a benefit?
How much bigger is the average home now, compared to 1980 ? Just curious.
The average home size today is only slightly larger than the 80s. The 80s was the decade home sizes stabilized from previous decades - give or take of course. The crazy thing is many builders pay comparable wages today as they did in the 80s especially in areas were immigrant (including illegal) labor is abundant. The rise of two income households is largely responsible for the increase in home prices. With two incomes people are willing to pay more for their homes.
Not the entire picture. Housing alone makes up for any lack of inflation of other goods. Housing has always taken the lion's share of income and now it is at ridiculous numbers. In 1980 the average house value was $47k, today it is $320k. Wages in no way have kept up with that. The argument goes beyond just inflation. The market in general operates on too much of short term gains often in sacrifice to long term benefits. Plus the carnage shirt term focus leaves in its wake sometimes is horrendous. Im 100% a compassionate capitalist. Socialism/Marxism/ communism sucks, but we could use a bit more caring for all stakeholders in business practices.
I disagree that the average house value is anywhere near $320k today. Where are you getting your numbers?
Pick fifty years then. I can speak to that, since I'm in the age group that lived thru it. Why not pick 20 years, or two months ago? The world is fleeing to the US, by hook or by crook, or by following immigration laws, not the other way around.
What will be interesting is 50 years from now, will they still be flocking to the US after the Democratic socialist left get done burning it all down to create their neo-Marxist Utopia
I thought maybe you were misled because you were in Texas. But I found:
There are currently 74,088 homes for sale in Texas. The median list price in Texas is $326,854 and the average price per square foot is $136. https://www.redfin.com/state/Texas
The average home size today is only slightly larger than the 80s. The 80s was the decade home sizes stabilized from previous decades - give or take of course. The crazy thing is many builders pay comparable wages today as they did in the 80s especially in areas were immigrant (including illegal) labor is abundant. The rise of two income households is largely responsible for the increase in home prices. With two incomes people are willing to pay more for their homes.
I thought maybe you were misled because you were in Texas. But I found:
There are currently 74,088 homes for sale in Texas. The median list price in Texas is $326,854 and the average price per square foot is $136. https://www.redfin.com/state/Texas
Be careful using listing prices as that's what zillow and redfin are using.
bertwrench mentions house value which is different. Listing prices will include the house value and the land value together.
I thought maybe you were misled because you were in Texas. But I found:
There are currently 74,088 homes for sale in Texas. The median list price in Texas is $326,854 and the average price per square foot is $136. https://www.redfin.com/state/Texas
You're including the value of the land in your numbers. House value (which is listed separately in municipal assessments) is just the value of the structure.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
