My parents bought their first house in the early 60's for $16,000. They did that on dad's income which was $3,000 per year and had to have a 20% down payment. $3,000 per year was not an entry level salary those days. Now Walmart pays $30,000 starting pay for full time workers so things are in line based on starter homes costing $150,000. The big difference is that people no longer need 20% down payments but will have to pay mortgage insurance if they don't.

My parents bought their first house in the early 60's for $16,000. They did that on dad's income which was $3,000 per year and had to have a 20% down payment. $3,000 per years was not an entry level salary those days. Now Walmart pays $30,000 starting pay for full time workers so things are in line based on starter homes costing $150,000. The big difference is that people no longer need 20% down payments but will have to pay mortgage insurance if they don't.