The costs of renting vs buying a home:

[Matt Collins]

SOURCE:
https://www.visualcapitalist.com/buying-vs-renting-house-in-america/​

 

[Anti Globalist]

No wonder people would rather rent nowadays.

 

[Anti Federalist]

https://twitter.com/i/status/1698127645391671624

 

[Matt Collins]

wow that's amazing

 

[Krugminator2]

wow that's amazing

The unemployment rate was 20%+ in the Depression. It is 3.8% or so now.

A car is actually more affordable using his numbers. Cars last four times as long and require less maintenance. Plus they are much safer and have a lot more features. The average sq footage for a home in 1930 was 1100 sq ft. It is a 2500 sq ft today. So an equivalent house would be 6.8 times income in 1930 vs 7.8 times 2023 income using his numbers. Hardly a big difference and especially so given how historically stretched home prices are right now from your chart.

 

[oyarde]

Current Median income 36k , avg family savings 13k , median new home price 432K. Yr 2000 median new home price 166 k , yr 2000 median income 32k.

 

[tebowlives]

The unemployment rate was 20%+ in the Depression. It is 3.8% or so now.

A car is actually more affordable using his numbers. Cars last four times as long and require less maintenance. Plus they are much safer and have a lot more features. The average sq footage for a home in 1930 was 1100 sq ft. It is a 2500 sq ft today. So an equivalent house would be 6.8 times income in 1930 vs 7.8 times 2023 income using his numbers. Hardly a big difference and especially so given how historically stretched home prices are right now from your chart.

You sure about cars lasting 4x as long? Bad road conditioners added to wear and tear back then but they were easy to work on. That said changes in technology, especially the increased speed, happened quick back then. Driving down the need to hold onto a 5 year old car imo.

 

[acptulsa]

The unemployment rate was 20%+ in the Depression. It is 3.8% or so now.

Are you comparing raw carrots to cooked carrots again?

You know, there is a difference. Ask any rabbit. Or anyone with no teeth.