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re: The math for buying a home no longer works, per WSJ
Posted on 12/21/23 at 2:03 pm to meansonny
Posted on 12/21/23 at 2:03 pm to meansonny
quote:
By a significant margin of 0.27%.
Great point.
Let's do 31 more pages.
your math aint mathin too well
before COVID was a thing, the last 20 year (2000-2020) delta bw average home price increase and average wage increase was 39% ($163,200 to $329,000 and $14.75/hr to $24/hr)
This post was edited on 12/21/23 at 2:04 pm
1
Posted on 12/21/23 at 2:22 pm to hubertcumberdale
quote:
your math aint mathin too well
Everyone has a different data source (i used SSA.gov's annual average income).
But let's use math on your post here.
$163200 to $329,000 is about 3.7% annual growth over 20 years.
$14.75 to $24 is 2.57% annual growth over 20 years.
You have a gap of 1.13% per year.
So your struggle is based on a compounding deficit of 1.13% per year.
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