⚡️🏠 NEWS - In 1985, Baby Boomers paid 3.5x their income for a home.
Today, Millennials are paying 6.3x theirs.
Discussion
It means the country is full.
Best not look up the 1965 numbers.
bro just stop spending money on avocado toast and you'll be able to buy a house in no time
I don't buy avocado toast or houses. In my country, houses are overpriced and our wages are miserable. If you want to, you almost have to go through the credit stage, and that's out of the question for me. I don't want to end up a slave to my banker.
I should've added "/s" to indicate sarcasm https://money.cnn.com/2017/05/15/news/millennials-home-buying-avocado-toast/index.html
No, I understood it very well, but it was an opportunity to exchange ideas.
That’s the same in my country 😆
The worst shit is that there is many ppls
who think it’s good investment so they buys it on credit so these house prices could be called “future prices”.. these money haven't even been earned by people and sent to circulation, but they're already written into those house prices. Wondering where it might stop 🫣🧐
Maybe that’s why in small countries like mine are prices least affordable in Europe because of this loaned money.
To be specific, Czechia is on the “first place”.
Thanks for your feedback
Housing is not and necessarily overpriced. There are small regions which it has been monetized but otherwise the structures themselves are roughly what they should cost. Based on the cost of materials and labor.
If you build every aspect of a modern house personally, no subs all custom. You will make roughly 1.25x to 1.55x the cost of materials. In cold climates.
So your chart is a story of wage deflation not house inflation.