Reply to Example of how housing prices have far outpaced inflation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.redfin.com/VA/Arlington/1028-N-Frederick-St-22205/home/11237727

Sold for $52,500 in 1976.  Its inflation adjusted price should be $297,309, but instead it’s on the market for almost three times that.

Just posting this for the benefit of Boomers who contend that they paid 12% interest on their mortgages and don’t see what the issue is.[/quote]

College prices are the same (I remember thinking when eldest was born that they'd fix that before he got to college , nope, kid just graduated, and it was over $90k per year).  Not everything follows inflation rates, including the cost of housing and college[/quote]

Right, so the two things that are most closely linked to upward mobility in the US (home ownership and higher education) are increasingly out of reach for working class and LMC Americans (and obviously anyone living below the poverty line).

But you can buy a flat screen TV for $150![/quote]

College is free if poor. No change in price since 1976. I am a boomer and went to college in 1980. At time my FASFA was showing ZERO family income and my Moms net worth negative $20,000. So on FASFA showing double zero. Zero income and Zero assets. I went in state to school and was free. It still is free. The only difference is for parents who can afford it like me. We pay through the nose for college. I paid a fortune for my three kids college. Full price. But why not I have the money. Back in 1976 we subsidized rich people. Did you now CUNY schools in 1976. City University of New York charged zero tuition? I could have been an investment banker on Wall Street and lived on Park ave and sent my kid to Baruch for free. Today the vast majority of Baruch goes free through financial aid but rich people pay full price. And the SUNY systems in NYC did not raise tuition at all pretty much in the 1970s. It was heavy tax payer subsidzed. That was unfair as the working class subsidzed the college kids of rich parents. Today SUNY schools are still zero tuition for famlies under $120,000. But the days of my roomater at a SUNY school Dad driving a Jaguar and living in Westchester getting heavily subsidized tuition are over.

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