1 Nov 2022 5:12 pm
$250k is average for homes, but the places that are close to major opportunity career wise cost much moreSkans » 01 Nov 2022, 4:17 pm » wrote: ↑ Your first statement is marginally close to accurate. Your second is not.
In the 1960's an average 3/2 home (1,400sf) cost around $18,000. That was not an average salary in the 1960's though. Closer to $10,000. A seasoned professional might have made $18,000, but not an uneducated hourly worker. So, for the average guy and average house would cost about 2 years worth of salary.
Now, today you can still find a 1400 sf house for about $250,000 plus or minus. The average salary is closer to $60,000. So, it takes 4 years of work to afford the same house. If you want a 2-2 condo, more like 2-3 years.