this post was submitted on 11 Sep 2023
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submitted 1 year ago* (last edited 1 year ago) by sag@lemm.ee to c/comicstrips@lemmy.world
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[โ€“] chiliedogg@lemmy.world 14 points 1 year ago (1 children)

The small city I work for in Texas has a median home price of nearly $3,000,000. The cheapest home currently available in the city is 1.8 million.

The median income doesn't support those numbers. How does that work? Those same houses were 1/5 the price 10 years ago, and 1/3td the price in early 2021.

Areas with historically cheap housing are seeing house prices double annually, but wages aren't keeping up because people who already opened a house 3-4 years ago still have a cheap house with 2-3% interest.

A 400ft 1br studio apartment in the town I work costs $2,300/month. That would have gotten you a hell of a house 5 years ago.

[โ€“] marron12@lemmy.world 2 points 1 year ago

A 400ft 1br studio apartment in the town I work costs $2,300/month.

That's insane. Not even 20 years ago, you could throw a stone and find an apartment for like $500-$800 in that general part of the country (TX/OK). Not a slum or a hovel, and not in the sticks. Just a normal apartment.