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Houses Are 73% More Expensive Today Than In 1973—Plots Are Smaller Too
National Economics Editorial ^ | May 28 | Spencer P Morrison

Posted on 05/30/2017 10:04:24 AM PDT by Thalean

In 1973 the median household income was $9,265...

Consider that the median sales price of a new home in January, 1973, was only $29,900—3.2 times the median household income. In other words, if the median family saved up every penny earned, and put it towards a new home, it would take just over three years to buy a brand new house.

This held relatively steady for the next decade. In 1985, new home prices crept up a little, to 3.7 times the median household income.

It was during the 1990s and 2000s that home prices began to skyrocket towards where they are today.

In January 2017 the median sales price for a new home was $317,400, which is 5.6 times the median household income of $56,516.

All told, houses are 73% more expensive today, in real terms, than they were in 1973...

The US Census started tracking the median lot size (in square feet) for new home construction in 1976. During that year, the average lot was 10,125 square feet. In 2015, it’s only 8,600—the smallest on record.

So not only are houses getting more expensive, but we’re getting less land as well.

In the interest of fairness, I’ll also point out that the median new home is larger, in terms of square footage, than older homes as well—so it’s not a total loss.

(Excerpt) Read more at nationaleconomicseditorial.com ...


TOPICS: Business/Economy
KEYWORDS: america; americaindecline; americandream; economy; usa
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To: Flick Lives

It seems like there has been more speculation too. People flipping houses, buying houses to cash in later.


101 posted on 05/30/2017 1:38:34 PM PDT by virgil (The evil that men do lives after them.)
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To: dragnet2

It doesn’t. You can see a sliver of the next unit over in the first pic if that’s what you are referring to.


102 posted on 05/30/2017 1:39:53 PM PDT by rb22982
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To: dragnet2
No kidding. Cost me $1200 a month to feed our 6 member family. Sure, I can buy oodles of iphones. Can't eat an iphone though.
103 posted on 05/30/2017 1:41:00 PM PDT by Sam Gamgee
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To: Steely Tom

Nixon was an asshole twice over then. Gold standard and China.


104 posted on 05/30/2017 1:41:59 PM PDT by Sam Gamgee
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To: sheana
and if the windows are open they can hear each other pee

I like properties where I can pee the entire property line. Mine is pretty close but I could do better.

105 posted on 05/30/2017 1:45:02 PM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: rb22982

Wait a minute, you said everything I was seeing in your #1 pic was all one single residence.

Now we find out it’s two residences? One mans wall is another man’s bedroom, one man’s floor is another man’s ceiling.

Like I said, they’re all very similar to apartments or civilian barracks, with nice facades. You made my point better than I.


106 posted on 05/30/2017 1:47:39 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Mears

I think builders need to start building more modest homes instead of the McMansion. In the future, I don’t think people are going to have those incomes.


107 posted on 05/30/2017 1:49:05 PM PDT by virgil (The evil that men do lives after them.)
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To: rb22982

“Now, a CONDO is nothing but an apartment with a fancy name - you can buy one of those around here for $60-$75k.


I had a townhouse condo and now I have an apartment condo and absolutely LOVE it.

One floor living is an absolute delight for me——and many of my neighbors.

.

.


108 posted on 05/30/2017 1:50:19 PM PDT by Mears ("It takes a lot of clout to be a victim."---Joe Sobran)
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To: rb22982

“Now, a CONDO is nothing but an apartment with a fancy name - you can buy one of those around here for $60-$75k.


I had a townhouse condo and now I have an apartment condo and absolutely LOVE it.

One floor living is an absolute delight for me——and many of my neighbors.

.

.


109 posted on 05/30/2017 1:50:51 PM PDT by Mears ("It takes a lot of clout to be a victim."---Joe Sobran)
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To: Sam Gamgee; HarleyLady27

Nixon was doing his Prescott Bush’s NWO bidding; Prescott was Nixon’s patron since his first run for office.

When Nixon failed to appoint former CIA spook Geo HW Bush to VP... BAM!... suddenly all the RINOs and other CIA spooks working at the Washington Post broke Watergate.

Nixon was a poor boy from Whittier until Prescott came along. Prescott had just co founded Planned Parenthood with Margaret Sanger and apparently no one remembered FDR had indicted Prescott Bush for funding the Nazis in the early days of WWII.

It was Prescott Bush who funded Nixon. And then the Bush/CIA RINOs (don’t for one minute believe that Bob Woodward was not CIA) gave us Watergate because Nixon wouldn’t go along with their program of having HW as VP.

Puts the Reagan choice of HW as VP in greater perspective.

Also Bob Dole’s screaming at HW Bush during one of the 1980’s debates:

“I’ll get you, you f***ing Nazi!”

The Bushes had some major blackmail dirt on Nixon; the 18 minute gap in the Nixon tape was just a public ruse... (Nixon didn’t know he was recording himself? I doubt it...!)

I suspect what they had on Nixon was the Bebe Rebozo gay intimation, that came out recently. http://www.nydailynews.com/news/national/nixon-darkest-secrets-new-biography-digs-rumors-richard-nixon-gay-affair-mafia-banker-article-1.997960

And to put all this in perspective...

they are dying to get similar stuff on President Donald Trump.

No wonder Trump is sweeping the White House of microphones and hidden cameras (that’s what the flashing red light in the White House story was all about.)

Lord Jesus, give Trump and Bannon wisdom to do Your Will.


110 posted on 05/30/2017 1:56:04 PM PDT by Sontagged (Lord Jesus: please expose, unveil and then frogmarch Your enemies behind You as You've promised...)
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To: WilliamCooper1

“Here in Seattle, you’re not getting anything livable for less than 500K.”

............ then, -there are cities like Detroit.


111 posted on 05/30/2017 1:57:22 PM PDT by EnglishOnly (Fight all out to win OR get out now.)
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To: WilliamCooper1
Here in Seattle, you’re not getting anything livable for less than 500K. In the desirable suburbs outside of Detroit, vacant lots go for $500K and up..
112 posted on 05/30/2017 2:02:22 PM PDT by EVO X
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To: Mears

The new normal in America - apartment dwelling for almost everyone making less than 500,000 / year - at least in this part of California. Basically, if you’re not making that, (combined) - you’re banished to a more “forgiving” area. Ridiculous.


113 posted on 05/30/2017 2:02:36 PM PDT by atc23 (The Confederacy was the single greatest conservative resistance to federal authority ever)
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To: EVO X
Here in Seattle, you’re not getting anything livable for less than 500K.

In the desirable suburbs outside of Detroit, vacant lots go for $500K and up..

114 posted on 05/30/2017 2:04:10 PM PDT by EVO X
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To: dragnet2
Sigh - no, an apartment has neighbors on multiple sides (potentially left, right, front and back) as well as above and below you. Additionally, apartments are much, much smaller units than townhomes and have no backyard at all (if you are ground level you *may* get a small patio). A single apartment building may have as many as 30 or 40 units (or much, much more in high rises in large cities).

A townhome, however, has only units to your left and/or right (and end units only has one touching unit), typically only has 4-6 units per "building," is much larger than an apartment (usually about the size of a starter single family home), nicer finish inside, and usually has a backyard or at least a very large patio with some grass. They are two very, very different experiences. A townhome experience, especially for those without kids, is not significantly different experience than a small single family home community where the lots are only 0.15-0.2 acres, while a condo is massively different. There is a reason townhomes sell and rent for significantly higher than condos do.

115 posted on 05/30/2017 2:13:14 PM PDT by rb22982
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To: rb22982

You said everything I was seeing in your #1 pic was all one single residence. No?


116 posted on 05/30/2017 2:16:51 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2
I didn't catch the #1 in your email - just if those pictures were one townhome.

Typical apartment or condo building

Typical townhome building

I can assure you, these are two very different lifestyle experiences having lived in both and rented them out over the last 20 years.

117 posted on 05/30/2017 2:22:23 PM PDT by rb22982
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To: Sontagged

Always wondered why Bush was forced on Reagan....


118 posted on 05/30/2017 2:32:22 PM PDT by Sam Gamgee
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To: rb22982

What are you talking about? I never emailed you. Why do you keep dodging and ducking?

You stated your number #1 at your post #71 pic of your condo was all one single residence. It’s not. You stated there was only one front door, but I can clearly see two front doors. Why are you being so disingenuous?


119 posted on 05/30/2017 2:57:58 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: rb22982

And that bottom image is a cartoon, a fake, none of it is real. Again, from my perspective, landlords and realtors are some of the most disingenuous people I’ve ever met. No joke.


120 posted on 05/30/2017 3:05:15 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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