Reply to 80s & 90s sitcoms. Middle class families from those shows would today be priced out of their houses.

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Reply to "80s & 90s sitcoms. Middle class families from those shows would today be priced out of their houses."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, but I’m told I’m entitled for wanting a nice home with my good salary. [/quote]

Fed and bank policies caused an unprecedented increase in home values in the last 25 or so years. (The primary beneficiaries were the boomers of course.) Once those home values go up in major metropolitan areas, they rarely go back down significantly. I don’t see it happening in DC anytime soon. Unfortunately, some generations got more screwed over than others. [/quote]

The housing bubble started January 1, 2000, up till then homes were just a hedge against inflation. After 9/11 housing stalled shortly and was not till 2002 it took off. Then we had 2009-2011 correction.

I bought my first home Feb 2000, I paid $278k. Brand new in 1954 was $13,500. The first 45 years rose in value in average $5877 a year. Steady rise.

However, from 2000 to 2005 my home shot up to $540k. Around 52,000 a year. In 2000 the youngest boomer was born 1964 making him or her 36. First time buyers were mainly Gen x.

My old house rose in value from 2000 to 2005 the same $ amount it did from 1954 to 2000. [/quote]

Yeah this is pretty consistent with what I’m saying. I’m Gen X and played it smart so was able to get a foothold. But boomers (as usual) made out like bandits, and generations younger than X got totally screwed.

I think most people don’t realize how much this country screwed the younger generations by allowing home values to get so insane. Many young people (who don’t have parents who will give them $$$ or homes) just won’t be able to become home owners anytime in the next few decades because we let the prices get way too high. (And the policy decisions to let prices get so crazy were made at the top by the ruling class. They knew what they were doing.)[/quote]

Not even a home in flyover country?

[/quote]

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