this post was submitted on 25 Sep 2023
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United States | News & Politics

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[–] agent_flounder@lemmy.one 15 points 1 year ago

Nobody with a brain believes that straw man.

The topic is complex and nuanced but it isn't hard to see that, say, single family homes are harder to afford now versus in the past by several measures.

Here are some examples articles...

https://anytimeestimate.com/research/housing-prices-vs-inflation/

Though the title of the following sounds like it disproves me until you get to the part about wages not keeping up.

https://www.supermoney.com/inflation-adjusted-home-prices/

Now compare the rise in the median price of a home to the median income of Americans.

if you adjust for inflation, the median income of Americans has only increased by 33%. The median housing prices, however, have increased by 60%. It’s even worse when you look at the income of younger adults. For instance, the median income of people between 25 and 34 only increased by $30 in 44 years (1974 to 2017). It’s no wonder homeownership rates among Millennials are lower than for previous generations.

Particularly in the last few years things have gotten worse.

https://cnn.com/cnn/2023/08/24/homes/home-affordability-worst-since-1984/index.html