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A comment on If you sell a house these days, the buyer might be a pension fund. Parent comment

Re:If you sell a house these days, the buyer might be a pens... by jeffbee on Wednesday June 09, 2021 @01:58PM (#27451005)
40 years ago a home in the Bay Area cost about 3x median income. Now it is more than 10x. Buyers in 1981 benefitted enormously from high interest rates. I know they whine about it now, but objectively it was a massive windfall for buyers.
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Re:If you sell a house these days, the buyer might be a pens... by jonny_eh on Wednesday June 09, 2021 @07:06PM (#27454513)
> it was a massive windfall for buyers

It was a wealth grab. They're the ones that voted for prop 13, and they're the ones benefitting. Meanwhile it's the Millennials and all subsequent generations that are stuck paying for their social security.

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Re:If you sell a house these days, the buyer might be a pens... by foogazi on Wednesday June 09, 2021 @02:43PM (#27451508)
> 40 years ago a home in the Bay Area cost about 3x median income. Now it is more than 10x.

Interest rated have fallen 10x

> Buyers in 1981 benefitted enormously from high interest rates.

They didn’t benefit from paying more for a money loan. They benefited from being able to refinance on always lower rates, and the corresponding rise in asset price

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