1991 avg salary 29k average house 120k Life expectancy 75 years

[Ironmanlet]

I know people will get hyper-transfixed on how the home prices have soared since 1991.


But consider this. The average size of homes has skyrocketed in the 2000's. Back in 1991 people were primarily buying homes built in the 60's, 70's, and 80's. Now, we're buying homes primarily built in the 2000's and onwards.





So, while the homes are 5-6x more expensive, they are also significantly larger and have significantly more amenities - more bedrooms, bonus rooms, dedicated living rooms and dining rooms, garages, etc. The average home bought in the 90's would be considered poverty, even if it was built today.

size is irrelevant when quality of materials is absolute dog chit.

We stoped building quality houses long ago.

They build them bigger now for half the cost using fuggin plastic toilets and faucets and chitty ass wood.


Houses now are meant to sell, not live in.

[akferd]

But consider this. The average size of homes has skyrocketed in the 2000's. Back in 1991 people were primarily buying homes built in the 60's, 70's, and 80's. Now, we're buying homes primarily built in the 2000's and onwards.

Yea but, consider this.. those old houses from the 80s are also going for 300-400k.

The 90s were Boomer's America. Everyone else just gets the leftover scraps.

[ErnieMccracken]

They build them bigger now for half the cost using fuggin plastic toilets and faucets and chitty ass wood.

When my folks moved into their brand new house (custom!), we had to be careful not to touch the walls because the paint would come right off like chalk lol. They spent years trying to fix up all the janky chit the builder cut corners on.

And of course it still quadrupled in value somehow.

[BigDeeps01]

Lotta rentcel threads it must be close to that time of the month

[nutsy54]

Some of those expenses have tripled now, and the fed min wage hasnt doubled

lol merica

LOL at anyone who's goal is a minimum wage life...

[Jacobcapra]

This is exactly opposite of what I see. Millennials are constantly getting considerably nicer houses than their parents ever had as their first houses.

I was going to say this too. a couple weeks back there was a thread with a miscer complaining that the cheapest homes were >$400K. I quickly zillow'ed over 100 homes in my area that were under $300K, which was met with utter disdain.

The OP called them shacks and said that any house under 2,000 SF wasn't even a house. I posted several houses for <$300K that were 2,000 SF or more and he then complained that they were old and had been horrendously flipped (which was total BS).

SO what he meant was the houses he WANTED were all >$400K - a large, recently built home that had mid to high end finishes.

Dumbest post of the year award

The houses may have gotten bigger, but the part that actually goes up in value (the land) has dramatically reduced.

The system is cooked to break up the family dynamic, and have your children raised by the flawed education system, rather than be raised by a financially stress free loving mother (or father) during the week, further weakening the morals of society.

That depends on where you live. In most suburban and rural areas, the house is the majority of the value (unless in the rural areas you own several acres or more).

Where I live, which is suburban to Atlanta, you can find loads of lots big enough to build a home for cheap.

https://www.zillow.com/douglasville-...22%3A%7B%7D%7D


Dozens of residentially zoned lots available in my zip code for 20-50K. That would make up what, 10% of the value of the asset?

[Jacobcapra]

Some of those expenses have tripled now, and the fed min wage hasnt doubled
lol merica

Federal minimum wage hasn't changed because it's a stupid concept. The COL varies massively throughout the U.S. so it makes no sense to mandate a minimum wage for the entire country. What is considered an acceptable minimum wage in LA or NYC would be grossly overpaid by comparison in like half the country.

Minimum wage should be determined by the state, or more ideally, through the market. That's what happens now - even though the federal minimum is $7.25, a majority of states set their own minimum wage above and beyond that, which is more commensurate with the COL for that state.

[ElArteSuave]

Lotta rentcel threads it must be close to that time of the month

lel

[ElArteSuave]

Federal minimum wage hasn't changed because it's a stupid concept. The COL varies massively throughout the U.S. so it makes no sense to mandate a minimum wage for the entire country. What is considered an acceptable minimum wage in LA or NYC would be grossly overpaid by comparison in like half the country.

Minimum wage should be determined by the state, or more ideally, through the market. That's what happens now - even though the federal minimum is $7.25, a majority of states set their own minimum wage above and beyond that, which is more commensurate with the COL for that state.

this x100 for example min wage in NYC is $15.

[TryingMen]

Quick Google search for 2022

Avg. Income: 60k
Avg. House: 348k
Avg. Life Exp: 79 years


Not that much has really changed. So a house is now 5.8x avg income rather than 4x what it was in 1991. That's not a terrible shift and it makes sense as the population grows housing will be more limited and cost more for those who can pay for it.

We added 4 years to life expectancy, but again not a huge shift.

Wages have fallen a little bit on average. 30k in 1991 is equivalent to 66k in 2023 after inflation adjustments. But again when the population grows I actually think it makes sense the average will be brought down. There's going to be more people handling lower salary jobs to support a larger population, so this isn't a shocking or even drastic shift. It's also way more common to have dual income households as well. Most of you just spend like materialistic ass holes is the bigger income problem if there is one.

Cliffs:
-Things basically look about the same when you take a harder look into the numbers

[Thebigzub]

Avg income now is $99k/y, so it's close to the same.

WRONG!!!



As of May 19, 2023, the average annual pay for an American in the United States is $58,563 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.16 an hour. This is the equivalent of $1,126/week or $4,880/month.

[BigTimeOperator]

Auto insurance has gone way up. More people are going to go without it.

[DolphinPilot]

Kind of lol at this thread.

Brb life was better when home prices were much more reasonable I wish I could own a house
Brb omg fuk yeah I wish home prices were that low today I would buy like 6 properties and make bank off rent

[dmaaack]

its over. brutal

[jamalfudge]

Auto insurance has gone way up. More people are going to go without it.

#vaccidents

[Godfrd824]

WRONG!!!



As of May 19, 2023, the average annual pay for an American in the United States is $58,563 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.16 an hour. This is the equivalent of $1,126/week or $4,880/month.

National average income: The national average U.S. income in 2021 was $97,962. The median U.S. income in 2021 was $69,717.

https://www.fool.com/the-ascent/rese...%20occupations.

[LinuxJon]

I know people will get hyper-transfixed on how the home prices have soared since 1991.


But consider this. The average size of homes has skyrocketed in the 2000's. Back in 1991 people were primarily buying homes built in the 60's, 70's, and 80's. Now, we're buying homes primarily built in the 2000's and onwards.





So, while the homes are 5-6x more expensive, they are also significantly larger and have significantly more amenities - more bedrooms, bonus rooms, dedicated living rooms and dining rooms, garages, etc. The average home bought in the 90's would be considered poverty, even if it was built today.

We need the extra space. The average Americans is twice the size as in 1991. lol

[propreffered7]

salary went up 1.5-2x but house price 6-8x

Funny thing... often times they use "household" for income.. which is at minimum 2 people

Single median income is actually different and more like 30k still

[CockSalesman]

150K house back then looked like this





people are comparing 2500 sq ft homes of today to 1200 sq ft house of back then.

[FastBack6]

I know people will get hyper-transfixed on how the home prices have soared since 1991.


But consider this. The average size of homes has skyrocketed in the 2000's. Back in 1991 people were primarily buying homes built in the 60's, 70's, and 80's. Now, we're buying homes primarily built in the 2000's and onwards.





So, while the homes are 5-6x more expensive, they are also significantly larger and have significantly more amenities - more bedrooms, bonus rooms, dedicated living rooms and dining rooms, garages, etc. The average home bought in the 90's would be considered poverty, even if it was built today.

There’s 900 square foot homes built in the 50’s going for 300K in my area.

This isn’t sustainable. It’s just not.

[katya422]

Funny thing... often times they use "household" for income.. which is at minimum 2 people

Single median income is actually different and more like 30k still

Pretty sure it is at least under $40K.

National average income: The national average U.S. income in 2021 was $97,962. The median U.S. income in 2021 was $69,717.

https://www.fool.com/the-ascent/rese...%20occupations.

From your link:

When the median is considerably lower than the average, it means that there are outliers on the top end. In short, a few people who make a lot of money boost the average. So $61,937 may be a more accurate representation of typical household earnings.

^^^
- 36.5% of households with an income under $50K a year

- 29.6% of households with an income between $50K and $100K a year

= 66% of households have an income of $100K or less

So saying that the "average income is nearly $98K" is misleading IMO. And that is household income, not individual income.

[miscinbro]

There’s 900 square foot homes built in the 50’s going for 300K in my area.

This isn’t sustainable. It’s just not.

There are 900 square foot homes built in the 30s going for 850-900 on the West coast.

[DannStark]

Don't look up BC Canada

Spoiler!

[Fang2]

Minimum wage should be 25 dollars an hour. Simple solution