They also stopped making single family homes. They have been making large houses that also makes it unaffordable.
1 month ago
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Housing being treated as a commodity rather than a home. The idea that property is an investment that needs to continually increase in value means that you treat anything affecting that potential value (like an increase in supply) is a potential threat to your investment that you will fight against, even when doing so makes life harder for others
1 month ago
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I have subscribed your channel for 2 years now. I have not found a person like you in this platform. Thank you so much for great videos and I just wanted take a time and say I appreciate your videos SOSO much!!💚
1 month ago
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Simple - Supply versus demand. Population grew. New home building did not grow at the rate of demand.
1 month ago | 3
My dad lived in L.A. and D.C. in the 70s. He told me he could afford a nice car and a decent apartment on a salary of $400 a month. It was like a sucker punch to the gut when I heard that. Lol
1 month ago | 2
It is very hard to find an affordable house in Florida. A decent affordable home on the market comes with extra expense like the leasing of the land and HOA fees. It's impossible...
1 month ago | 1
Home interest rates are a steal today, they ranged from around 8% in the mid to late 70's to 16% in the early 80's but the costs today are comparable to the cost in the 1970's due to wages being earned. Another area back then was the migration wasn't what it has been in the last 20 years to different states, as well as population levels have skyrocketed in the last 20 years over 1970 levels. My parents looked at homes in Del Mar, California with ocean views and blocks from the ocean in the mid 70's for 60k, today at least 4 million for that home. I believe the biggest issue is with investors, I have said that counties need to pass laws that say residential properties have to be sold to owner occupied only no investors allowed, no owners who live in one state and then use the property as a vacation home, no Air B&B's. That county would have residential owners and not renters, resulting in lower crime, properties that are taken care of.
1 month ago
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Greed clearly because wages are not keeping up people should be making much more!
1 month ago | 1
Nothing happens in a vacuum. The decline of home ownership is a symptom of a national decline. "Trickle down" and "supply side" economics was created specifically to redistribute wealth upward, to create a culture of insecurity and debt that keeps the non-ultra-wealthy from being able to focus on anything but their own survival. People are more generous, more charitable, and more tolerant if their own situation is comfortable and can reasonably be expected to remain that way. Change that - end labor unions, end pensions, use recessions to keep employment and wages low, make all financial interactions a zero sum game - and people stop being generous, charitable, or tolerant. They become more susceptible to divide-and-conquer demagoguery because they're scared. Eventually, they forget there was ever anything different. They forget (among other things) that housing used to be affordable for the middle class - and if they do somehow remember, the same forces that made the economy what it is will happily provide scapegoats to divert peoples' anger from the actual culprits.
1 month ago (edited) | 1
Timing is important. I know someone who has a mortgage on a 3/2ba that is cheaper than our townhouse 3/2+ rent.....
1 month ago | 0
@jaypaladin-havesmartswilll5508
How did this country lose its manufacturing sector based jobs and yet prices for standard family home shot up exponentially starting in 1980’s?
1 month ago | 0
You forgot that square footage increased from an average of 900 square feet to 2800 square feet. The expectation for a large house also contributed to the increase cost.
1 month ago | 0
Why didn’t the minimum wage increase at the same pace as Social Security cost of living increases?
1 month ago | 0
Greed is part of the issue but let's also adjust those numbers for inflation because 25k in 1970 is not the same as 25k in 2025...adjust those numbers so we comparing apples to apples... But Yes it's certainly a different time now and it's gotten worse!!
1 month ago | 0
Our standard of living declined substantially. The other metrics are a side show to the issue.
1 month ago (edited) | 1
OK many things are way, way ,way cheaper today . White and Brown goods ( old school for appliances like TV ,Stero etc were brown Washer, Refrigerator etc ,white ) People took out multi year loans to buy these items . Car cost more as a % of income . Banks only lend X % of your total income . What you don't have in loans on the ,White, Brown and car let's people afford to pay more for a home, and so they do . When rates go down they can afford a more expensive home and bid up the price .Cheape throw away goods and interest rates are most of the issue. If rates stay the same or higher home prices will come down . It's not the Stock Market and will take years to rebalance . Not to 70s ratios because your Refrigerator is not going to be a 5 year personal loan at 22% , unless Trump makes them in the US in a Union shop.
1 month ago | 1
Kristina Smallhorn
🔥 Homeownership Then vs. Now – What Happened? 🔥
Let's take a little trip back in time… 🕰️
🏡 1970s Home Prices – Around $25,000
💰 1970s Median Income – Around $9,800
💵 Mortgage Rate – 7.5% (higher than today, but homes were actually affordable)
Fast forward to 2024…
🏠 Median Home Price – $420,000+
💰 Median Income – $74,000
💵 Mortgage Rate – 7%+
So, in the ‘70s, a house cost about 2.5X your income…
Now? Nearly 6X your income (or more, depending on where you live).
🤯 Buying a home used to be a reality for middle-class families. Today, it feels like a luxury.
What changed? 👀
📈 Wages haven’t kept up with inflation.
📉 Housing costs have skyrocketed.
🏦 Higher interest rates + corporate real estate investing = fewer homes for buyers.
👇 Tell me your thoughts below! Is homeownership becoming impossible? What’s it like in your market?
1 month ago | [YT] | 168