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Old 09-12-2016, 09:47 PM
 
4,369 posts, read 3,737,552 times
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Quote:
Originally Posted by TR95 View Post
If they were lucky. My dad was making about $6,500 as a teacher a few years out of college and that was after the military so he would have been about 27/28. But Bear is on to something here. Can't wait to hear more.
https://www2.census.gov/prod2/popscan/p60-065.pdf
Considering median household income was 7700 (higher for a grad since back then college was actually impressive) it would have been easy for them to hit 10,000 a year. That 35000 mortgage would have been easily affordable. Remember back then the Husband did the work while the wife was in the kitchen.
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Old 09-12-2016, 09:48 PM
 
1,156 posts, read 990,644 times
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Quote:
Originally Posted by Perma Bear View Post
My point is 40 years ago a middle class family could throw a dart at a Bay Area map and buy a home that didn't land in Atherton, Woodside, Portola Valley, Hillsborough, Menlo Park, or Palo Alto. It's sick what this area has become.
I don't disagree. Just wonder what we will be saying 50 years from now. I won't be around to see it. I'm sure in 1968 people in New York were saying by the same thing as we are now. I'd have to look into what housing prices and income levels were in the east back then before I could say for sure.
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Old 09-12-2016, 09:49 PM
 
Location: Planet Earth
1,963 posts, read 3,053,562 times
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Quote:
Originally Posted by Perma Bear View Post
Click the link. They bought that in 1968 for 35000 which wasn't much of a premium over the median price in the WHOLE COUNTRY. A 40% premium for a beautiful lot with breathtaking views of the 280 valley vs a 1000% premium it would be now over the median price now. A middle class person could have purchased that home.
I answered the question you asked - no I don't remember it.

I hope that this isn't a new trend - asking if people remember WWI, or how much a loaf of bread cost in 1942.
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Old 09-12-2016, 09:52 PM
 
4,369 posts, read 3,737,552 times
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Quote:
Originally Posted by marcopolo666 View Post
I answered the question you asked - no I don't remember it.

I hope that this isn't a new trend - asking if people remember WWI, or how much a loaf of bread cost in 1942.
1968 is recent history. There are plenty of people who bought houses then enjoying the Bay Area, not quite knowing how easy they had it. Back then a fresh eyed college grad could buy a house in the highlands, hop in a brand new corvette stingray and pick up chicks at the beach to bring back to his house. Nowadays a similar person is slumming in a 3000 dollar a month 1 bedroom apartment with 3 room mates and driving a 1986 Honda.
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Old 09-12-2016, 09:52 PM
 
Location: Planet Earth
1,963 posts, read 3,053,562 times
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But I think that you just answered the question you asked about 5 months ago : "What is it with this forum and its 'high density housing' obsession? "

//www.city-data.com/forum/san-f...y-housing.html
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Old 09-12-2016, 09:52 PM
 
1,156 posts, read 990,644 times
Reputation: 1260
Quote:
Originally Posted by Perma Bear View Post
https://www2.census.gov/prod2/popscan/p60-065.pdf
Considering median household income was 7700 (higher for a grad since back then college was actually impressive) it would have been easy for them to hit 10,000 a year. That 35000 mortgage would have been easily affordable. Remember back then the Husband did the work while the wife was in the kitchen.
Yeah the good ol days. And companies had pensions and you could stay with the same company for 35 years and retire. When I was graduating high school I think my dad got up to $30k/year.
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Old 09-12-2016, 09:54 PM
 
4,369 posts, read 3,737,552 times
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Quote:
Originally Posted by TR95 View Post
Yeah the good ol days. And companies had pensions and you could stay with the same company for 35 years and retire. When I was graduating high school I think my dad got up to $30k/year.
What's bad about that? My point is the Baby Boomers and the Silent Generation had it better in basically every fiscal aspect and some aesthetic and cultural ones, you're just proving my point. I am worse off than someone of a similar age with a similar net worth and income ADJUSTED FOR INFLATION in every single way.
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Old 09-12-2016, 10:01 PM
 
1,156 posts, read 990,644 times
Reputation: 1260
Quote:
Originally Posted by Perma Bear View Post
What's bad about that? My point is the Baby Boomers and the Silent Generation had it better in basically every fiscal aspect and some aesthetic and cultural ones, you're just proving my point. I am worse off than someone of a similar age with a similar net worth and income ADJUSTED FOR INFLATION in every single way.
Nothing wrong with that at all. Although, there was a huge buying opportunity only 4 years ago and it could happen again. At least certain baby boomers, gen x and later didn't have a chance at being drafted and going to war. That's one way to look at it.
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Old 09-12-2016, 10:03 PM
 
4,369 posts, read 3,737,552 times
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Quote:
Originally Posted by TR95 View Post
Nothing wrong with that at all. Although, there was a huge buying opportunity only 4 years ago and it could happen again. At least certain baby boomers, gen x and later didn't have a chance at being drafted and going to war. That's one way to look at it.
If I could buy houses here for 1/10 the price adjusted for inflation I would go to war. The odds of dying in Vietnam were less than 1% especially if you enlisted before you were drafted and chose were you could go.
Even 4 years ago houses were 500% higher adjusted for inflation instead of just being 1000%.
Even then you had to have been old enough with a 2 year income to benefit from that.
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Old 09-12-2016, 11:09 PM
 
Location: Silicon Valley
18,813 posts, read 32,604,662 times
Reputation: 38578
So what? The minimum wage when I started working in a regular job in CA in about 1970 was $1.10 per hour.

What does that have to do with the cost of anything today?
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