USA so called golden age, ca 1945 to 70s seems a myth to me?

[El_Machinae]

Like how long would it take if you save about half your post tax salary to afford a mortgage? 2-3 years maybe?

 

[Lexicus]

Not sure that specifically moving away from cities to a detached low density dwelling is a good test of anything

How many hours do you need to work to make the down payment on a house is a good test and spoiler, it's gone up a lot

 

[Farm Boy]

You could price buying your home in Chicago or New York or San Francisco instead, too? Or a regional city. Maybe Milwaukee or Lincoln, Nebraska?

 

[El_Machinae]

Calculating housing is hard. You never own the land you're on, but even the 'ideal' urban density isn't achieved with the same ownership structure you'd see if it was a house with a picket fence. Condos have fees. Apartments often implicitly encourage a rental arrangement. I own my townhouse, but even that level of smallness is implicitly chosen against by the majority of my friends who pay a very large premium to have a larger space.

 

[Farm Boy]

I'm guessing anywhere the employment market hasn't crashed is exhibiting the same-ish trendline in your graph. At least down here, too.

 

[Arwon]

How many hours do you need to work to make the down payment on a house is a good test and spoiler, it's gone up a lot

Yeah I'm not disputing that housing has gotten a lot more expensive, of course it has. I'm on a good income and basically can't buy a place anywhere in urban Australia any more, and in my city of under half a million people, the median price of dwellings is about 9x median income now, higher for free standing houses.

Just criticising the specific monomania for large detached dwellings in low density areas. Especially when this thread is about international comparisons, and a lot of other countries don't really do the suburban sprawl thing so much.

Also there's a lot of difference in owning vs renting by country, and it doesn't really correlate with general wellbeing. There's something to be said for systems where you don't need to buy in order to have housing security and a good quality of life.

 

[Zardnaar]

Paid mortage off. Not having rent or a mortgage helps so much.

 

[Narz]

The problem with this scenario is trying to measure two different things: the quality, including size, and the inflation-adjusted price of housing between then and now.

Our incomes have gone up, but so too have our expectations.

Expectations gone way down. No one seriously thinks about home ownership before age 40 unless they're really well off.

Not sure that specifically moving away from cities to a detached low density dwelling is a good test of anything

Alright then? You can afford to own a comfortable apartment outright in a large city for yourself and a few dependents after a bit of college and half a decade of work.

 

[Narz]

Just criticising the specific monomania for large detached dwellings in low density areas.

Yeah living in suburbia is pretty crap.

I live the style in Europe where just 10 miles outside cities it's quite rural and pleasant.

Suburbia is the worst of both worlds.

 

[Gorbles]

You can afford to own a comfortable apartment outright in a large city for yourself and a few dependents after a bit of college and half a decade of work.

No, I can't lol.

 

[Narz]

Also there's a lot of difference in owning vs renting by country, and it doesn't really correlate with general wellbeing. There's something to be said for systems where you don't need to buy in order to have housing security and a good quality of life.

Renting often better than owning when it comes to many things but not a home. Who wants to live in a society where people are dependent on greedy landlords and rising rents.

Also I wouldn't consider paying some 40 year mortgage really owning, not sure if your data is based on that or proper ownership (100% paid).

 

[Zardnaar]

We had 20% deposit and paid the mortgage off in 10 years.

Bought meh house in decent neighborhood, no overseas holidays lived like students until late 20s/early 30's.