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346
AD
2024 Aug 22, 10:26pm
AD
2024 Aug 22, 10:26pm
DemocratsAreTotallyFucked says
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Median US home sold for $85,000 in 1985
Median US household income was $24,000 in 1985, yet the average 30 year mortgage rate was 12%
back in 1985 my family rented a 3 bedroom/2 bathroom villa (new construction with patio and amenities like pool, gym, clubhouse, etc) for $425 a month in South Florida ; local minimum wage was around $4.50 an hour, so a single wage earner making $7 an hour could easily afford to rent it for their family
I rented a 1 bedroom garage apartment in very good shape in Panama City Beach for $300 a month back in 1993 and entry level local wage was around $5 an hour
there is now no rentals in Panama City Beach where you can earn the entry level local wage of $15 an hour (for service workers like hotels, fast food, etc) and be able to rent a 1 bedroom apartment ; 1 bedrooms go for $1450 a month
people who lived in Panama City Beach were not house poor back in the 1990s and still were able to average $5 an hour for 40 hours a week and have plenty of money left over
sources:
https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm#:~:text=1984,140%2C400
https://www.census.gov/library/publications/1987/demo/p60-156.html#:~:text=Median%20household%20income%20in%201985,the%20Bureau%20of%20the%20Census.
https://www.bankrate.com/mortgages/historical-mortgage-rates/
.
.
Median US home sold for $85,000 in 1985
Median US household income was $24,000 in 1985, yet the average 30 year mortgage rate was 12%
back in 1985 my family rented a 3 bedroom/2 bathroom villa (new construction with patio and amenities like pool, gym, clubhouse, etc) for $425 a month in South Florida ; local minimum wage was around $4.50 an hour, so a single wage earner making $7 an hour could easily afford to rent it for their family
I rented a 1 bedroom garage apartment in very good shape in Panama City Beach for $300 a month back in 1993 and entry level local wage was around $5 an hour
there is now no rentals in Panama City Beach where you can earn the entry level local wage of $15 an hour (for service workers like hotels, fast food, etc) and be able to rent a 1 bedroom apartment ; 1 bedrooms go for $1450 a month
people who lived in Panama City Beach were not house poor back in the 1990s and still were able to average $5 an hour for 40 hours a week and have plenty of money left over
sources:
https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm#:~:text=1984,140%2C400
https://www.census.gov/library/publications/1987/demo/p60-156.html#:~:text=Median%20household%20income%20in%201985,the%20Bureau%20of%20the%20Census.
https://www.bankrate.com/mortgages/historical-mortgage-rates/
347
The_Deplorable
2024 Aug 24, 12:28pm
AD says
A couple of thoughts:
1. That was before the Alan Greenspan Housing Bubble - the financial fraud that is still with us today.
2. Note that the price of the house is very affordable - roughly three times the household income.
"Median US home sold for $85,000 in 1985
Median US household income was $24,000 in 1985"
A couple of thoughts:
1. That was before the Alan Greenspan Housing Bubble - the financial fraud that is still with us today.
2. Note that the price of the house is very affordable - roughly three times the household income.
352
HeadSet
2024 Sep 20, 5:52pm
HeadSet
2024 Sep 20, 5:52pm
I do not think we really want to end the federal government, but just streamline it down to its Constitutional duties.
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It seems that Fed employees know how to get rich betraying the public.