@dirtydeeds100@WingstopFr1es@Complex That’s called population growth. Of course there are more homeowners when there are millions of more people. Homeownership has been on a decline since 2004. You’re also counting the people who purchased their homes decades ago when housing was significantly cheaper.
@2luved@WingstopFr1es@Complex Your dad’s experience proves the point. A $90K house on a $30K salary was 3× his income. A $500K house on a $40K salary today is 12.5× annual income. That’s not a budgeting problem, that’s an affordability problem. Today’s generation can’t replicate what worked in the 90’s
@huatp7@WingstopFr1es@Complex Huh?? What does that have to do with anything? Whether someone buys a home outright or finances it doesn’t change the fact that home prices have increased significantly faster than average wages over the years.
@WingstopFr1es@Complex 1938
Average Income: $1731 /year
Average House Cost: $3900
A new house is 2.25x salary
2026
Average Income: $65052 /year
Average House Cost: $472800
A new house is 7.26x salary