I hope this will be the case again one day. In 1955 an auto parts store manager in Portland cleared ~$9500 per year after taxes. The average price of a home in Portland in 1955 was ~$8500.
Hard for most people to even comprehend that a year's salary from a decent job used to buy a home. Now the average home is more like 10-15x a yearly salary. People putting 5% down for a 30+ year mortgage that will cost them twice the purchase price of the home by the time they're done with it..
All part of the "big squeeze" they've got us in. We get a bit less for our hard work and for our dollar every year... Bit by bit so it normally almost goes unnoticed.
Those days are soon over, one way or another. They got too greedy and pushed people a bit too far I think.
You need to wonder when land and housing will be cheap enough for people that don't make $150,000 + to be able to buy.
I hope this will be the case again one day. In 1955 an auto parts store manager in Portland cleared ~$9500 per year after taxes. The average price of a home in Portland in 1955 was ~$8500. Hard for most people to even comprehend that a year's salary from a decent job used to buy a home. Now the average home is more like 10-15x a yearly salary. People putting 5% down for a 30+ year mortgage that will cost them twice the purchase price of the home by the time they're done with it..
All part of the "big squeeze" they've got us in. We get a bit less for our hard work and for our dollar every year... Bit by bit so it normally almost goes unnoticed.
Those days are soon over, one way or another. They got too greedy and pushed people a bit too far I think.