[SamAdams76]

Average income 1959 = $5,019
Average cost of home 1959 = 12,400

Average income 2015 = $51,939
Average cost of home 2015 = $188,900

So basically a home was about 2 1/2 times your annual income in 1959 and about 3 1/2 times your annual income today.

A little more expensive to buy a home these days but consider that houses are much bigger and have many more features homes didn't typically have in 1959, like central AC and multiple bathrooms.

That sort of puts the lie to the contention that home prices are rising 13x faster than wages.

Besides, if that was true, nobody would be able to buy houses today.

[GeronL]

Bump, they are not comparing similar houses. I wonder if they are comparing similar dollars? Thr US dollar has lost a lot of value over the decades

[Mears]

I’m in Eastern MA——I haven’t seen a $188,900 house in my area for years.

.

[mrsmith]

Also, the ‘average’ could reflect that fewer middle and lower income people are buying homes.

[kvanbrunt2]

absolutely it’s not like your comparing the price of a beer over the same time. look at what our tv’s are today. my house ws built around 1850 — had fireplaces for heat then later gas light installed. today’s houses being built in my neighborhood are 25% bigger with garages and free taxes. and a 777% bigger price tag.

[who_would_fardels_bear]

But the 13X figure just HAS to be true.

After all, they're not building any more land.

At least that's what the nice man from the real estate agency told me and he was well-dressed and clean cut.

So he had to be telling me the truth.