Posted on 05/30/2017 10:04:24 AM PDT by Thalean
In 1973 the median household income was $9,265...
Consider that the median sales price of a new home in January, 1973, was only $29,900—3.2 times the median household income. In other words, if the median family saved up every penny earned, and put it towards a new home, it would take just over three years to buy a brand new house.
This held relatively steady for the next decade. In 1985, new home prices crept up a little, to 3.7 times the median household income.
It was during the 1990s and 2000s that home prices began to skyrocket towards where they are today.
In January 2017 the median sales price for a new home was $317,400, which is 5.6 times the median household income of $56,516.
All told, houses are 73% more expensive today, in real terms, than they were in 1973...
The US Census started tracking the median lot size (in square feet) for new home construction in 1976. During that year, the average lot was 10,125 square feet. In 2015, it’s only 8,600—the smallest on record.
So not only are houses getting more expensive, but we’re getting less land as well.
In the interest of fairness, I’ll also point out that the median new home is larger, in terms of square footage, than older homes as well—so it’s not a total loss.
(Excerpt) Read more at nationaleconomicseditorial.com ...
And stop evading all the questions you’ve been dancing around.
“And that bottom image is a cartoon, a fake, none of it is real.”
Why do you call it a fake?
I had a townhouse condo here in MA EXACTLY like those pictured.
.
The image a real home or a virtual home. It can’t be both. Which is it?
Sorta like movies.
My parents had a custom built 6,000sq/ft+ home built in 1962 for about $43,000
Large yard by a creek in Crystal, Minnesota (by Minneapolis)
The basement opened to the backyard as the home was on a hill. We had large timbers in the basement that went outside to hold up the balcony. Several elm trees and a willow. A tree house was later built. Today according to zillow.com the home is valued at $450,000
FTA: a new home in January, 1973, was only $29,900... wow!
Prices are sky high for everything due to politicians and bankers and wall street.
“These reports can be deceiving.”
That’s true. Realize also that the modern and recently constructed home has been mexicanized. That means cheap labor by alien invaders who don’t have a clue how to hang drywall, paint rooms, lay floors or install windows and doors.
If you’re shopping for a recently constructed house, you could end up paying tens of thousands of dollars to fix your mexicanized house.
How do I know that? I’m shopping for a house right now and many are pieces of crap that will require many dollars to make them habitable.
Read beyond the headline, before you criticize. They did more than adjust for inflation, Tom; they adjusted for wages/salaries.
What (or whom) did I criticize?
We bought ours in 2004 for $189k it was just appraised for $320k. We’ve put about $60k into it tho’
good lord man, typo quick post on the internet. Why are you so bogged down on me miss-reading one small part of one post of the dozens we’ve had that have nothing to do with the point? Nearly every townhome building looks exactly like the larger one I showed you and most of the individual units look just like my two (+- garage). You are seriously a waste of time and I think you like to disagree just to disagree.
Is this supposed to mean something? And why do you consistently evade questions?
It means you are reading way too much into a post that I took about 15 seconds to think about and mis-read one word of a dozen responses we’ve had to each other on this thread. I haven’t evaded a single question you’ve asked. I’ve already answered you multiple times - you are just an idiot.
Like I said, most condos all similar to apartments or civilian barracks, with nice facades as I call them. Again you made my point better than I when you provided the image.☺ Thanks!
1) A townhome does not have anyone below you or above you. A condo/apartment does.
2) A townhome does not have anyone in front or behind you. A condo/apartment does.
3) A townhome typically is 4-6 units vs 40 to hundreds for a condo/apartment
4) Townhomes have 1.5 to 4x as much sq ft space as a condo/apartment
5) Townhomes have much nicer fit and finish than condos
6) Townhomes frequently will have a private backyard and at worst a large private patio. Condos do not.
7) Townhomes frequently have attached garages. Condos never do.
8) Townhomes cost more than apartments/condos do to buy.
About the only thing in common between a townhome and a condo is the fact that there is at least one shared wall - the difference is townhome at *most* has 2 shared walls and end units just have one while condos can have 4-6 shared walls. This last point seems to be a big deal to you - and that's fine that you don't want to live in a townhome because of a single shared wall - but to claim they are like apartments just because of that is silly. Most people today see very little difference with a Townhome with a single shared wall and having Single family homes that are 2 yards away from each other.
They share walls? OMG!
You finally get it. Ya tried to tell me that was one residence in the pic you provided but it was clearly two residence, with 2 front doors mashed right up against each other where they they clearly share walls, just like apartments. LOL!
Once again, you make my points better than I. Thank you!
Sigh, like I said - you are quite slow. A 1981 Honda is a car, just like a 2017 Infiniti is and will get you from A to B, but its hardly the same experience. There are more things dissimilar between those 2 cars than they are similar, even though their basic function is the same. The same is true of an apartment/condo and a townhome.
Good lord you are slow. Everyone knows townhomes have a shared wall but its not an apartment, just like a ranch home is nothing like a 3 story home with a basement even though they are both single family homes, nor is a 1981 Honda the same as a 2017 Infiniti even though they are both cars. There is more different than a condo and a townhome than alike.
Let’s put it this way, the last time I listed that place for rent, I had over 150 people reach out about the place. Not one person was confused as to what it was based on the picture.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.