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A comment on US housing price higher than housing bubble 2008. Parent comment

Re:US housing price higher than housing bubble 2008 by xur17 on Tuesday September 14, 2021 @04:45PM (#28530858)
Per [1], the minimum income to be part of the top 1% of income earners is $538k / year. I find it incredibly hard to believe you cannot afford to own your own home with that level of income, even in the biggest cities in the US.

What level of income are you considering here, and what house price do you feel is approachable with that income level?

[1] https://www.usatoday.com/story/money/2020/07/01/how-much-you...

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Re:US housing price higher than housing bubble 2008 by onionisafruit on Tuesday September 14, 2021 @04:50PM (#28530936)
That’s household income. It takes a mere $367k to be in the top 1% for an individual. I think your overall point still stands.
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Re:US housing price higher than housing bubble 2008 by astrea on Tuesday September 14, 2021 @04:56PM (#28531035)
"Mere 367k" as if that isn't enough to afford the down payment on a nice home. Sure, you're not going to pay cash for a $3M penthouse in NYC, but I make well below 1/4 of that in a city and I'm well on my way to a down payment on a nice home for myself. I would recommend one SERIOUSLY reconsiders their budget/priorities if they are unable to build a house fund (even over a couple year period if starting from scratch) at $367k/yr.
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