Current Events > 23 yr single mom in 1988 with no education could buy a house

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WingsOfGood
02/11/22 2:34:13 PM
#1:


https://gamefaqs.gamespot.com/a/user_image/0/1/2/AAefUOAAC6hs.jpg

Just work harder. Be like Elon Musk.

Nothing to see here folks just entitled people whining!
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FortuneCookie
02/11/22 2:35:14 PM
#2:


Older generations be like FUCK YOU, I GOT MINE.
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MabusIncarnate
02/11/22 2:35:56 PM
#3:


Just get a 3rd full time job!

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VipaGTS
02/11/22 2:36:20 PM
#4:


Well yea. Now houses cost 10x more and were still making the same wages that single mom made back in 1988. My parents moved here from a different fuckin country as adults and in a few years were able to own a home. If they tried that today theyd be fucked.

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Robot2600
02/11/22 2:37:05 PM
#5:


FortuneCookie posted...
Older generations be like FUCK YOU, I GOT MINE.


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Lost_All_Senses
02/11/22 2:38:25 PM
#6:


Was it a place that eventually got gentrified?

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Questionmarktarius
02/11/22 2:39:15 PM
#7:


Where is this house? That's the bigger driver of price than anything else.

Meanwhile, in Detroit...
https://www.realtor.com/realestateandhomes-search/Detroit_MI
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WingsOfGood
02/11/22 2:39:30 PM
#8:


Lost_All_Senses posted...
Was it a place that eventually got gentrified?

Idk, but does it really matter?

I think there is more of a point to the owning of a house than to the what that house is worth today.
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AngelicRadiance
02/11/22 2:40:14 PM
#9:


My parents bought their house 11 years ago and it's only increased in value since lol

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Spiderman23JII
02/11/22 2:40:21 PM
#10:


VipaGTS posted...
Well yea. Now houses cost 10x more and were still making the same wages that single mom made back in 1988. My parents moved here from a different fuckin country as adults and in a few years were able to own a home. If they tried that today theyd be fucked.


same my dad immigrated to the Bronx in the 70s and was able to buy and whole apartment building with 4 apartments in it in less than 5 yrs


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TheMikh
02/11/22 2:40:44 PM
#11:


union factory workers in the auto industry were pretty well compensated back in the day

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WingsOfGood
02/11/22 2:42:08 PM
#12:


TheMikh posted...
union factory workers in the auto industry were pretty well compensated back in the day

as where many other jobs that required nothing but graduating high school
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Questionmarktarius
02/11/22 2:44:10 PM
#13:


Spiderman23JII posted...
same my dad immigrated to the Bronx in the 70s and was able to buy and whole apartment building with 4 apartments in it in less than 5 yrs
But, everyone else wants to live there now.

That's why prices are jacked up anywhere you can see the lights from NY or LA, but not in places like Barstow or Malone.
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VipaGTS
02/11/22 2:45:47 PM
#14:


TheMikh posted...
union factory workers in the auto industry were pretty well compensated back in the day
If $77,000 was 3x her income, she was making roughly $26,000. A factory worker today making $500 a week (which is about average, some make more) would be right at that salary. The average house today (lets say roughly 300k), would be more than 10x that salary. many people are making the same wages from 1988 and the prices have gone up.

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AngelsNAirwav3s
02/11/22 2:46:15 PM
#15:


I own multiple houses, but I do have an engineer salary

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dioxxys
02/11/22 2:46:37 PM
#16:


We need changes to the peoples housing.

The goverment needs to step in.

Because people cant afford houses, they are building more and more apartments so they can suck people dry of their hard earned money that will never go towards owning a house.
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Lost_All_Senses
02/11/22 2:47:17 PM
#17:


WingsOfGood posted...
Idk, but does it really matter?

I think there is more of a point to the owning of a house than to the what that house is worth today.

Just curious about context. But I mean, just comparing the difference in how much you gotta work to get a decent house is damning.

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Questionmarktarius
02/11/22 2:50:15 PM
#18:


VipaGTS posted...
The average house today
This seems important.

Average house in the 70s:
https://gamefaqs.gamespot.com/a/user_image/0/2/5/AAEhCpAAC6h5.jpg

Average house nowadays:
https://gamefaqs.gamespot.com/a/user_image/0/2/6/AAEhCpAAC6h6.jpg
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WingsOfGood
02/11/22 2:51:08 PM
#19:


VipaGTS posted...
If $77,000 was 3x her income, she was making roughly $26,000. A factory worker today making $500 a week (which is about average, some make more) would be right at that salary. The average house today (lets say roughly 300k), would be more than 10x that salary. many people are making the same wages from 1988 and the prices have gone up.

Yea, this is true.

I guess he didn't realize that them being highly compensated just meant their wages could buy more than the same wages could by today.
Thank you for this clarification though.

It really puts things in perspective.
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WingsOfGood
02/11/22 2:52:14 PM
#20:


Questionmarktarius posted...
This seems important.

Average house in the 70s:
https://gamefaqs.gamespot.com/a/user_image/0/2/5/AAEhCpAAC6h5.jpg

Average house nowadays:
https://gamefaqs.gamespot.com/a/user_image/0/2/6/AAEhCpAAC6h6.jpg


Why are you trying to gaslight? This is not even true.

Like wtf
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dioxxys
02/11/22 2:52:58 PM
#21:


Questionmarktarius posted...
This seems important.

Average house in the 70s:
https://gamefaqs.gamespot.com/a/user_image/0/2/5/AAEhCpAAC6h5.jpg

Average house nowadays:
https://gamefaqs.gamespot.com/a/user_image/0/2/6/AAEhCpAAC6h6.jpg
but....can you really fit three bedrooms into that 70's house?

Press X to doubt
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VipaGTS
02/11/22 2:53:55 PM
#22:


Thats not the average house today. What the fuck are you talking about lol.

https://photos.zillowstatic.com/fp/ed1958d62a674311bbdc9179046ee768-cc_ft_1344.webp

heres a modest, more average house I found on Zillow. Its $900,000 dollars. Also the 70s house you posted is definitely not 3 bedrooms. This woman got a 3 bedroom for under 100k.

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Questionmarktarius
02/11/22 2:53:58 PM
#23:


WingsOfGood posted...
Why are you trying to gaslight? This is not even true.
Houses like those green ones aren't built anymore.
A bunch of people all looking for cheap starter homes like that, that flippers already bought, is why cheap starter homes stopped being cheap.
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WingsOfGood
02/11/22 2:55:53 PM
#24:


VipaGTS posted...
Thats not the average house today. What the fuck are you talking about lol.

https://photos.zillowstatic.com/fp/ed1958d62a674311bbdc9179046ee768-cc_ft_1344.webp

heres a modest, more average house I found on Zillow. Its $900,000 dollars. Also the 70s house you posted is definitely not 3 bedrooms. This woman got a 3 bedroom for under 100k.


Question has trouble admitting issues of capitalism. Not really surprised he is trying to gaslight.

Questionmarktarius posted...
A bunch of people all looking for cheap starter homes like that, that flippers already bought, is why cheap starter homes stopped being cheap.

Also false.
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s0nicfan
02/11/22 2:56:37 PM
#25:


VipaGTS posted...
Thats not the average house today. What the fuck are you talking about lol.

https://photos.zillowstatic.com/fp/ed1958d62a674311bbdc9179046ee768-cc_ft_1344.webp

heres a modest, more average house I found on Zillow. Its $900,000 dollars. Also the 70s house you posted is definitely not 3 bedrooms. This woman got a 3 bedroom for under 100k.

Does the "Bay East" watermark in the top left corner mean it's a SanFran bay area home? Post the actual listing if you're going to call it an average, since picking a house from one of the most expensive areas in the entire country to use as an "average" metric seems like a bad call.

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NightingaleMD
02/11/22 2:57:12 PM
#26:


The person that wrote that has three options

1) Bitch forever

2) get a better job

3) live below quality of life of his mother but still better than most of the world

I mean seriously, "crime scene photographer." That GM factory job probably pays more anyway.


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RickyTheBAWSE
02/11/22 2:57:19 PM
#27:


it stings when people fail to live up to the delusions of the American dream

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apocalyptic_4
02/11/22 2:58:13 PM
#28:


Back in my day I could work at McDonalds and pay for college

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AzNDarkSamurai
02/11/22 3:00:04 PM
#29:


She also had more job stability back then


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WingsOfGood
02/11/22 3:00:09 PM
#30:


Here is how to find average price:

https://www.zillow.com/home-values/

$320,662 across the whole USA

Cali
https://www.zillow.com/ca/home-values/
$734,612

Nevada
https://www.zillow.com/nv/home-values/
$415,077

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VipaGTS
02/11/22 3:00:24 PM
#31:


s0nicfan posted...
Does the "Bay East" watermark in the top left corner mean it's a SanFran bay area home? Post the actual listing if you're going to call it an average, since picking a house from one of the most expensive areas in the entire country to use as an "average" metric seems like a bad call.
Is that not the average home?
https://www.zillow.com/homedetails/1801-Cornwall-Ct-Lathrop-CA-95330/244285305_zpid/

Theres nothing special about this house. In the same area, in 1988, house prices were around 150k. I dont know why you guys are focusing on location so much. The issue is salary vs cost. No matter where it is, a home should not cost more than 10x the average salary. Its that simple.


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WingsOfGood
02/11/22 3:00:55 PM
#32:


NightingaleMD posted...
The person that wrote that has three options

1) Bitch forever

2) get a better job

3) live below quality of life of his mother but still better than most of the world

I mean seriously, "crime scene photographer." That GM factory job probably pays more anyway.


You realize said person is literally Dexter.

I hope you sleep well tonight.
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s0nicfan
02/11/22 3:04:13 PM
#33:


VipaGTS posted...
Is that not the average home?
https://www.zillow.com/homedetails/1801-Cornwall-Ct-Lathrop-CA-95330/244285305_zpid/

Theres nothing special about this house. In the same area, in 1988, house prices were around 150k. I dont know why you guys are focusing on location so much. The issue is salary vs cost. No matter where it is, a home should not cost more than 10x the average salary. Its that simple.

A 5 bed, 5 bath, 3000sq foot home in one of the most high demand areas of the country isn't "average." Location absolutely matters... why shouldn't it? I could point you to a mansion that goes for 150K but it's going to be in nowhere, Ohio. Would you accept that it disproves your argument that affordable homes relative to salary don't exist? Or will you tell me "well... but that doesn't count because nobody wants to live there?"

EDIT:
https://www.zillow.com/homedetails/529-531-Grafton-Ave-Dayton-OH-45406/2067761379_zpid/

Here's a 5 bed, 3000sq foot home in Dayton, OH for $145k, for example.

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DarthDemented
02/11/22 3:06:30 PM
#34:


In 1991 my single mom was shopping around for houses like it was no thing till my stepdad got her to move us in with him.

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VipaGTS
02/11/22 3:06:33 PM
#35:


And how much would that same house in Ohio have cost in 1988? You seem to be missing the point here.

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WingsOfGood
02/11/22 3:07:50 PM
#36:


DarthDemented posted...
In 1991 my single mom was shopping around for houses like it was no thing till my stepdad got her to move us in with him.


Wild isn't it.
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VipaGTS
02/11/22 3:12:20 PM
#37:


https://www.cnbc.com/amp/2017/06/27/how-much-housing-prices-have-increased-since-1940-in-every-state.html

here is a list of every states average cost in 1980 and today (article is from 2017). Yea there are cheaper places to live overall, but the point is those have all gone up significantly and wages are still the same. How do you not see an issue with that? Were still earning 1980s wages and paying 2000s prices. Thats a problem. And dont bring up college because I dont want to get into student loan debt. That was easier for someone to handle back then too.

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Questionmarktarius
02/11/22 3:17:06 PM
#38:


Here:
https://www.zillow.com/research/housing-stock-islands-of-density-25866/

The answer is NIMBYs. That's why.

Cities and metro areas grow in two ways: By expanding outward into the surrounding, undeveloped countryside; and/or by growing denser within an already-developed footprint. Historically, American cities have done both. But since the 1970s, several of the countrys most economically vibrant coastal cities have gradually been doing less and less of either. The result has been decades of faster-than-average housing price growth in these areas as theyve struggled to add sufficient new housing in the face of sustained housing demand, which underpins their current housing affordability crisis.

Additionally, residential development in essentially all American metros has shifted to a new pattern. Construction in metropolitan interiors now concentrates in clusters of very large apartment buildings, dispersed amid mature, less-densely developed suburban tracts that are virtually frozen in time and produce almost no new housing. There is enormous potential for new housing supply to be had by allowing for even modest amounts of new density allowing a small share of lots currently host to a single-family home to instead house two, three or four units in these otherwise stagnant areas.

Because of local rules and regulations that have accrued over the decades, it is rare today to see the nations low-density suburban tracts redeveloped more densely. Areas zoned for single-family homes are particularly well-insulated from such change, and rarely see the types of multifamily construction common as recently as a generation ago. Such areas account for most of metropolitan Americas land, and comprise the sea of no-growth.
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Jiek_Fafn
02/11/22 3:17:38 PM
#39:


VipaGTS posted...
And how much would that same house in Ohio have cost in 1988? You seem to be missing the point here.
From a quick look up, it went for $34k in 1978. With inflation that's roughly $145k today. So this particular instance is spot on.

But also it's kind of a shitty example since it's a multi family home.

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VipaGTS
02/11/22 3:18:59 PM
#40:


Jiek_Fafn posted...
From a quick look up, it went for $34k in 1978. With inflation that's roughly $145k today. So this particular instance is spot on.
Right. With inflation. Wages should have also followed. That is the point. You cant just blame everything on inflation. We have the power to counter act that. The ones who can are just too greedy to do it.

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YWS-is-King
02/11/22 3:19:41 PM
#41:


Questionmarktarius posted...
Where is this house? That's the bigger driver of price than anything else.

Meanwhile, in Detroit...
https://www.realtor.com/realestateandhomes-search/Detroit_MI

LOL

The roof is literally caved in on one of those listings.

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Pepys Monster
02/11/22 3:19:52 PM
#42:


You live in the age of crypto, TC. There's no room to complain here.

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eggcorn
02/11/22 3:21:05 PM
#43:


FortuneCookie posted...
Older generations be like FUCK YOU, I GOT MINE.
what

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BuckVanHammer
02/11/22 3:22:39 PM
#44:


my mom did the exact same thing, same year and cost is probably about the same...weird.

my mom probably didn't make that much tho.

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Questionmarktarius
02/11/22 3:22:42 PM
#45:


YWS-is-King posted...
LOL

The roof is literally caved in on one of those listings.
I'm pretty sure one of them is 25% cardboard and duct tape, too.
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WingsOfGood
02/11/22 3:24:40 PM
#46:


Pepys Monster posted...
You live in the age of crypto, TC. There's no room to complain here.

Why is your worth only $100,000?

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Jiek_Fafn
02/11/22 3:25:11 PM
#47:


VipaGTS posted...
Right. With inflation. Wages should have also followed. That is the point. You cant just blame everything on inflation. We have the power to counter act that. The ones who can are just too greedy to do it.
Agreed
But at the same time the house mentioned in the OP should be around $190k if it scaled with inflation. It highlights a much bigger monster imo.

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WingsOfGood
02/11/22 3:27:07 PM
#48:


Jiek_Fafn posted...
Agreed
But at the same time the house mentioned in the OP should be around $190k if it scaled with inflation. It highlights a much bigger monster imo.


But then the mom would not have increased her wealth as much.

So older generations who got theirs have an interest in younger not being able to afford.
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IllegalAlien
02/11/22 3:27:34 PM
#49:


a crime scene photographer making 90k is probably in a HCOL area... and yeah it sucks that housing keeps going up. trust me, I watched it happen for 4 years in Denver, it's not something you can keep up with (I was making >6 figures the whole time)

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SiO4
02/11/22 3:28:28 PM
#50:


FortuneCookie posted...
Older generations be like FUCK YOU, I GOT MINE.

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