Quote:
Originally Posted by Shazam
Yeesh.
Here's things to understand:
It's expensive to own property. You have to save and sacrifice to own property. You have to have a good job. You might need a mate with a good job. It has always been like this. Yeah hey back in the 70s you could buy a place for $30K, but you made $8000/year. And eggs were 50 cents a dozen. Yes kiddies, inflation is a real thing.
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Except your numbers are wrong. In the early to mid-70s when you could by a detached house in a major city for $30K the median family income was more like $13-15K.
Inflation has driven incomes up by about 5 times, but in the same time period house prices have increased by about 15-30 times (depending on the city).