- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: interest rates on home mortgages wont fall anytime soon
Posted on 7/25/23 at 3:39 pm to Eighteen
Posted on 7/25/23 at 3:39 pm to Eighteen
quote:
Not at these prices, though
Yep. Boomers always talk about how they only made 10 bucks an hour at the shoe store but then they were able to buy a 3 story house for 10k
1
Posted on 7/25/23 at 3:44 pm to el Gaucho
quote:
Yep. Boomers always talk about how they only made 10 bucks an hour at the shoe store but then they were able to buy a 3 story house for 10k
This is the hidden part that is probably more important than inflation or house price increases. Wage growth has been relatively stagnant for a very long time. Especially for people just graduating college and entering the middle market for jobs.
Inflation, interest rates and home prices are only one part of the equation to affordability. A kid graduating college and working a good job at a bank making $45k per year can't afford the $275k starter homes available in the market.
I was able to afford a starter home in 2003 with that wage. Not today.
This post was edited on 7/25/23 at 3:45 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News