Reply to Why do people think Boomers had it so good?

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[quote=Anonymous][quote=Anonymous]It was easier to afford a single family house back then for sure. You could buy a house in Bethesda in the 1960’s on the equivalent of an 80k salary in 2024 dollars.

Everything is less affordable now than before. Doesn’t matter that the average house is bigger now because we don’t have the option of a tinier brand new house close in to the city anymore. [b]Everything new is branded is “luxury” which massively jacked up prices, even cars. [/b]

You now need to earn $300,000-400,000 in the DC region to even think about buying a home that isn’t a condo or townhouse. Standard of living is less than it was before. [/quote]

There is no incentive and it's not affordable for the developers to build more modest housing as our "standards" had gone up.  It's also due to the fact that there are [b]way more people living in many major metro areas now than before[/b].  There is more competition for the well located housing, more demand generates incentives for the developers to build higher end homes as there are more people with money who will compete to get them and developers no longer need to cater to the middle class or working poor to sell their construction.  Places that people don't want to live in are still cheap and it's where the affordable housing is built.

But if you look back.. a lot of areas that are now very $$$$ used to be way dumpier when Boomers bought and in no way competitive.  Boomers who didn't buy back then are broke today. [/quote]

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