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re: If inflation remained average and constant since 1976, the avg home price = 137,400 today
Posted on 7/13/24 at 1:03 pm to Gifman
Posted on 7/13/24 at 1:03 pm to Gifman
quote:
Very different since the technologies and materials have changed so much since the 70s. Houses… not so much
You can buy an 85" UHD TV now for fewer actual dollars than you could buy a decent 25" console TV in 1976.
Building material science had changed a lot in the last 50 years you may not have noticed if you haven't dug around in a 1970s house and/or haven't paid attention to modern homes. It is really hard to make and apples to apples comparison between 1976 homes and 2024 homes. A lot of things are better now and a lot of things are worse.
4
Posted on 7/13/24 at 1:05 pm to theunknownknight
This will come across wrong, but if more women had stayed at home and raised kids then prices would not have gone up so much. Things only sell for what people are willing to pay. When all households became 2 income households people bought pricier homes and pushed prices up.
Add in to that, nobody had granite countertops or custom oak cabinets back then. They also had window air conditioning and most houses were under 2,000 sq ft. You have to ask who is buying these expensive houses and why?
Add in to that, nobody had granite countertops or custom oak cabinets back then. They also had window air conditioning and most houses were under 2,000 sq ft. You have to ask who is buying these expensive houses and why?
Posted on 7/13/24 at 1:11 pm to Auburn80
quote:
Add in to that, nobody had granite countertops or custom oak cabinets back then. They also had window air conditioning and most houses were under 2,000 sq ft. You have to ask who is buying these expensive houses and why?
Yeah, that's what people ignore when they compare "the average price of a new home now vs 1976".
The average new home today is 2 or 3 times the average new home in 1976.
Both in size and luxury amenities.
Posted on 7/13/24 at 1:18 pm to theunknownknight
quote:
I think feminism was a marketing/economic ploy
It essentially doubled the professional work force, halving what was required to pay employees.
This post was edited on 7/13/24 at 1:19 pm
Posted on 7/13/24 at 1:19 pm to Strannix
quote:
The United States has been destroyed by leftists and corporatists.
Bush and Trump spent massive amounts of money too. It's the ruling class, don't get it twisted.
Posted on 7/13/24 at 1:23 pm to theunknownknight
quote:
2. The median household income today is inflated by ALOT because the top 1% today pulls the number well above the actual for those in the bell curve.
That’s not how median works.
Posted on 7/13/24 at 1:24 pm to Oilfieldbiology
quote:
It essentially doubled the professional work force, halving what was required to pay employees.
Yup, it was a lot cheaper to put women into the work force than it was to keep increasing men's wages, pensions etc.
And the icing on the cake was that you were putting more money into women's hands, and women love to spend money.
Posted on 7/13/24 at 1:25 pm to theunknownknight
But the boomer thread said we shouldn’t work hard and pull ourselves up from our bootstraps and learn from what they did!
We are just all too lazy
We are just all too lazy
Posted on 7/13/24 at 1:30 pm to Joe Dimaggio
Here comes Grandpa Joe painting with his broad brush again. Charlie should have left your arse at home and never taken you to the chocolate factory you dumb count.
Posted on 7/13/24 at 1:34 pm to Obtuse1
quote:
Building material science had changed a lot in the last 50 years you may not have noticed if you haven't dug around in a 1970s house and/or haven't paid attention to modern homes. It is really hard to make and apples to apples comparison between 1976 homes and 2024 homes. A lot of things are better now and a lot of things are worse.
The bones of modern houses are far worse than the bones of old houses. You won't get new construction with actual 2x4s and copper plumbing.
Posted on 7/13/24 at 1:36 pm to theunknownknight
quote:
This issue is more than just inflation. I think feminism was a marketing/economic ploy to push more money into the markets ultimately reducing our buy power and making us more dependent.
Doubling the workforce through the nonsensical idea that women must work a job instead of work in the home has definitely had a hugely negative effect on the world. Inflation is only one negative effect.
Another problem is that we got away from the gold standard and stopped making money out of materials that actually had value.
Posted on 7/13/24 at 1:39 pm to Obtuse1
quote:
Building material science had changed a lot in the last 50 years you may not have noticed if you haven't dug around in a 1970s house and/or haven't paid attention to modern homes. It is really hard to make and apples to apples comparison between 1976 homes and 2024 homes. A lot of things are better now and a lot of things are worse.
76 home:
Formica countertops
Steel tubs
Single pane alum. windows
R13 blown in attic insulation
Gas guzzling ac unit, undersized
Double com st steel sink w/ disposal
Built in stove/oven
Recirc. hood over stove
Wired for phone and cable
Double Carport w/ storage room
Vinyl floors in baths, kitchen and laundry.
Stained cabinets. Cheap wood.
Cheap wall paneling in den.
Wallpaper in kitchen and bath
Hollow interior doors.
Posted on 7/13/24 at 1:46 pm to theunknownknight
It’s because millennials won’t put sweat equity into fixer uppers
Posted on 7/13/24 at 1:48 pm to theunknownknight
Certain items have increased in cost, unrelated to inflation due to supply chain or supply/demand issues..concrete and windows are two big ones.
Other items, lumber/siding as examples, are price fixed to keep them at a higher rate.
That said, the Covid 30% or so bump created a one time increase. Most of which will never go away.
The cost of land and fees also continues to rise in growth areas (places with jobs).
Apartment and townhouse living will be the choice of 15-20% more people than ever (and continue to grow).
Other items, lumber/siding as examples, are price fixed to keep them at a higher rate.
That said, the Covid 30% or so bump created a one time increase. Most of which will never go away.
The cost of land and fees also continues to rise in growth areas (places with jobs).
Apartment and townhouse living will be the choice of 15-20% more people than ever (and continue to grow).
Posted on 7/13/24 at 1:55 pm to RealDawg
quote:Rent has increased to such an insane percentage of income that even that is getting out of hand.
Apartment and townhouse living will be the choice of 15-20% more people than ever (and continue to grow).
People can’t rent to save anymore.
Posted on 7/13/24 at 2:03 pm to Delacroix22
quote:
But the boomer thread said we shouldn’t work hard and pull ourselves up from our bootstraps and learn from what they did!
We are just all too lazy
Correct,
Men of every other generation were able to figure it out.
The latest generation of men are barely men.
Hell, they can't even define what is a woman/man.
This post was edited on 7/13/24 at 2:04 pm
Posted on 7/13/24 at 2:09 pm to imjustafatkid
quote:
The bones of modern houses are far worse than the bones of old houses. You won't get new construction with actual 2x4s and copper plumbing.
LOL 2x4s have been 1.5x3.5 since the middle 60's. I would rather have PEX water distribution than copper and I own houses with both.
You argue the bones are better but fasteners are better (glued nails now in 99% of construction stick construction), engineered trusses are stronger and more accurate, and the list goes on. In most places the 70s were the nadir of quality homes. I could break down almost every single building material and they almost all have seen increases in quality from what was used in the average mid-70s home. In general, the quality of the actual lumber has gone down but outside of that the materials are almost all better by significant margins. I won't even mention the number of homes from the 60s to mid-70s with aluminum wiring in them.
Posted on 7/13/24 at 2:15 pm to Obtuse1
I think the comparison between the cost of the houses being built in the 1970s versus today is kind of a moot point considering a house is a necessity. At the end of the day the average person in 2024 is going to pay $450,000 for a house, the material reasons for that aren’t as relevant as the fact that their largest expense by far is the most egregious by far and drives down their standard of living from top to bottom.
You could argue for cultural reasons why it shouldn’t be that way but, the fact is, it is that way. Contractors build entire neighborhoods and then turn around and sell these houses to people. When someone moves into a town, they have so many options to buy a house and, most of the time, most of these options are the $450,000 options.
Even If houses were made of solid gold, people would still have to pay $450,000 for a solid gold house leaving very little for other expenses thus lowering their buying power even more.
You could argue for cultural reasons why it shouldn’t be that way but, the fact is, it is that way. Contractors build entire neighborhoods and then turn around and sell these houses to people. When someone moves into a town, they have so many options to buy a house and, most of the time, most of these options are the $450,000 options.
Even If houses were made of solid gold, people would still have to pay $450,000 for a solid gold house leaving very little for other expenses thus lowering their buying power even more.
This post was edited on 7/13/24 at 2:19 pm
Posted on 7/13/24 at 2:26 pm to theunknownknight
Didn’t read details, but median price would be much more useful than mean. In ‘76, the mean is probably artificially low due to old shacks/small houses pulling it down (previously owned by low income earners, and these owners would never own now because they are in government housing), and now the mean is probably artificially inflated due to upper middle class McMansions that didn’t exist in ‘76.
Would be interesting to also parallel these numbers to price of lumber, bricks, poured concrete, roof shingles, etc. between ‘76 and now
Would be interesting to also parallel these numbers to price of lumber, bricks, poured concrete, roof shingles, etc. between ‘76 and now
Posted on 7/13/24 at 2:27 pm to Joe Dimaggio
quote:This the truth.
Yeah, that's what people ignore when they compare "the average price of a new home now vs 1976".
The average new home today is 2 or 3 times the average new home in 1976.
Both in size and luxury amenities.
Today:10 foot ceilings, sheet rock throughout the whole home including ceilings, probably twice as much electrical wiring and outlets, expensive hardwood floors, expensive kitchen and bathroom countertops and cabinets.
Versus: 8 foot ceilings, paneling throughout the house and acoustical tiles or beadboard ceilings, less electrical wiring and outlets, inexpensive linoleum and carpet flooring, inexpensive laminate countertops and cabinets.
These upgrades add huge costs to homes today.
This post was edited on 7/13/24 at 2:55 pm
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