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re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 10:55 am to jordan21210
Posted on 12/20/23 at 10:55 am to jordan21210
quote:
The people saying it’s bad journalism or denying reality are older and haven’t bought homes in 15-30 years.
Comparing median income to median home prices is a fools tale.
As I said, there are 50,000,000 rental units available in the US.
To equate median income to median price when there are 50,000,000 rental units available shows intellectual dishonesty.
It is as simple as that.
Comparing apples and oranges.
2
Posted on 12/20/23 at 10:59 am to meansonny
quote:
As I said, there are 50,000,000 rental units available in the US. To equate median income to median price when there are 50,000,000 rental units available shows intellectual dishonesty.
How many of those rentals are ST only? Have you seen what it costs to rent in a decently sized metropolitan area lately? It’s not exactly a bargain.
Posted on 12/20/23 at 11:24 am to meansonny
quote:
Comparing median income to median home prices is a fools tale.
Disagree.
I don’t think the median income should be purchasing the median home, but you can make observations about the state of the market by comparing this ratio to years past.
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