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Back to 1952, $18k house, $12k salary


               
2010 Aug 27, 4:13am   13,477 views  34 comments

by dhmartens   follow (0)  

I was reading the GI bill and veterans adjustment act of 1952 was the start of the American Dream of home ownership. A house cost was $18k and your salary was $12k and if you had a wife they would give you a 3 to 5 year mortgage to make housing more affordable. From then on till today the congress was bribed to make houses more affordable until that exact same 2 bedroom 900 square foot $18k structure here in the San Fernando Valley was selling for $750k in 2006.

I think we are heading back to those levels. With globalization, over regulation, over taxation, oligarch mafias running congress and the medical establishment, a billion dollars to start up a factory in the US, and 2 billion workers in China and India making 55 cents and hour with the few lucky making $3 per hour - we will see water seek its own level and return to 1952 levels. Only trade embargoes, tariffs, and mafia style barriers can stop it.

#housing

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28   thomas.wong1986   @   2010 Sep 4, 6:24am  

sybrib says

For decades, my partner and I never traded more than a third of our income for housing, nor did we have any gimmicks like inheriting a legacy home nor getting a SIlicon Valley stock windfall: instead we just “bought” what we could afford. It is the reason we are both salaried folks in Cool and Hip departments of Cool and Hip tech companies living in East San Jose

Certainly goes against the grain (the Hype and Myth in SV) since many (recent migrants from the East Coast) only think Tech People are only Cool and Hip Stanford grads (no Nerds) raking in high salaries/stock options and dont live in East SJ, or other Non-fortress cities.

1/3 is about right. For those like yourself who worked in SV for decades most likely understand how quickly the better times can turn against you. So being a uber-saver and living in with in your means makes sense. My hates off to you! :)

29   B.A.C.A.H.   @   2010 Sep 4, 9:32am  

thomas,

It is more than just the money. Neighborhoods outside The Fortress are more real, the people are more real, their kids are more real. Makes it easier for local-yokel podunks like us to see the big picture and make personal choices since we're grounded out here in The Real World.

30   CBOEtrader   @   2010 Sep 12, 4:54am  

Nomograph says

CBOEtrader says


Free drugs=good. Free food=bad. Ain’t that interesting logic.

Elderly folks on Medicare worked and paid taxes their entire lives. They lived through a time with a MUCH higher tax structure than you currently enjoy. They paid for the hospital you were born in, the schools you attended, the building you work in, the roads you drive on, and the city you live in.
How do you equate that to “free drugs”? They paid their own way, and yours too.

Off-topic fight picking dribble. Par for the course for Patrick.net's largest troll: Nomo.

The discussion was about the hypocrisy of the Republicans, who claim that the government is the wrong entity for social handouts--unless they need to buy florida votes in a tight presidential race. The discussion was not about which social programs are justified , and which ones aren't.

However, anyone who claims to be a medical professional should understand that the $1.5 trillion from medicare part D was just a handout to big pharma more than it was about helping the elderly.

I highly doubt you are who you claim to be.

Nice try though. Fucking troll.

31   simchaland   @   2010 Sep 12, 7:28am  

Nomograph says

CBOEtrader says

Fucking troll.

No thanks, but I appreciate the offer. In any case, I’m probably to old and stretched out for you.
It would be like throwing a hot dog down a hallway.

Oh my! I never knew you were so cavernous, Nomo. :o

32   Vicente   @   2010 Sep 12, 9:52am  

It still astounds me that American society has degenerated so far in terms of civic responsibility since WWII.

It truly seems to me like nearly every layer of American society goes along with the program of the Uber-Corporations. Which seems to be that the Middle Class is merely another source of fuel to mine to keep the boiler going. Once it's depleted, then what?

33   EBGuy   @   2010 Sep 13, 10:32am  

This is starting to get interesting: On Sunday, Boehner said he would support renewing tax cuts for the middle class but not the wealthy if that was his only choice. Class warfare, this will be fun. I bet the Dems can hold the high ground.

34   Cvoc13   @   2010 Sep 13, 6:12pm  

Now there is a guy who has a grip on reality... whoa... But sadly much of it has truth in it,

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