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To: marktwain
A median home would be plausible for someone with a median income.

In Massachusetts, the median salary is $86,840.
And the median home price is $596,000.

Do the math on that and show me how it works.

Wealth creation for most people starts with purchase of a home that grows in value over time. A stable place where you can raise a family. That avenue is closed off for a heck of a lot of young people.

17 posted on 04/06/2024 11:53:58 AM PDT by ClearCase_guy (It's not "Quiet Quitting" -- it's "Going Galt".)
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To: ClearCase_guy
In Massachusetts, the median salary is $86,840. And the median home price is $596,000. Do the math on that and show me how it works.

A person earning the median salary in MA can’t afford to buy a median-priced home … as a first-time home buyer.

But if that person earning $86,840 has $200,000-$300,000 of equity in a home he bought ten years ago, then the $596,000 purchase price of the median home is not so unrealistic.

23 posted on 04/06/2024 1:20:22 PM PDT by Alberta's Child (If something in government doesn’t make sense, you can be sure it makes dollars.)
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