🔥 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?
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?
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