Well it’s fine if home prices don’t come down, but that means wages need to go up substantially. If we want to keep the same ratio we had in the 60s (2 years earnings to buy a house) that means the average wage needs to go up to around $200,000 per year. That much movement is probably not going to happen, but the point that six figures should be common more or less remains.
Shington501 on
Just remember how absolutely awful 2008/9 was. A housing collapse may make your home more affordable, but you’ll be unemployed and still unable to buy. Search for opportunity, don’t root for doom.
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Well it’s fine if home prices don’t come down, but that means wages need to go up substantially. If we want to keep the same ratio we had in the 60s (2 years earnings to buy a house) that means the average wage needs to go up to around $200,000 per year. That much movement is probably not going to happen, but the point that six figures should be common more or less remains.
Just remember how absolutely awful 2008/9 was. A housing collapse may make your home more affordable, but you’ll be unemployed and still unable to buy. Search for opportunity, don’t root for doom.
Now do property taxes.
Mine is at $1300 per year. Hate it.