Adjusted for inflation, a Single Family Home costs 75% more than it did in 1987

Re:Adjusted for inflation, a Single Family Home costs 75% mo... by danans on Monday April 18, 2022 @08:53PM (#31078612)

These summary stats mask a huge amount of regional variation. My parents bought their house in a Midwestern suburb in the early 80s for about 100k, or 270K today. The house is worth 300k today, a 9% increase over 40 years. Meanwhile my West Coast home in has increased in value 33% in the 10 years I've owned it accounting for inflation, or 250% since it was built in the late 1990s.

My parents house is a small fraction of their assets while my house is a significant portion of mine. Likewise my mortgage payment is a much larger chunk of my income than theirs ever was.

[ Parent | on HN ]

Re:Adjusted for inflation, a Single Family Home costs 75% mo... by cableshaft on Monday April 18, 2022 @11:21PM (#31079471)

My Midwestern suburb home has gone up in value about 33% in the 4 years I've owned it (accounting for inflation, without taking it into consideration it's gone up ~50%), so yeah, very regional.

[ Parent | on HN ]

Re:Adjusted for inflation, a Single Family Home costs 75% mo... by danans on Tuesday April 19, 2022 @12:58PM (#31085737)

Even sub-regional. Hip second tier Midwestern cities have probably appreciated considerably more than my parents' aging first ring Midwestern suburb.

[ Parent | on HN ]