> A median is one such average. By wanting to know the mean or the range shows that you're trying to cherrypick the result you want.
I think GP is just trying to make sure we're comparing apples to apples. To me it almost comes across as you cherry picking data (average house price vs median salary).
Re:Gen Z does not dream of labor
by kitten_mittens_ on Wednesday April 27, 2022 @05:53PM
(#31186276)
That's where I was going, yeah.
https://fred.stlouisfed.org/graph/?g=OBTh only has data for median house prices from 1963, and household income from the mid '80s. The spread growing isn't heartening.
Re:Gen Z does not dream of labor
by MisterBastahrd on Sunday April 24, 2022 @05:09PM
(#31148364)
It's just the data that's available.
The median house price so far this year is over $390K, by the way. The earlier value was for last year.
Re:Gen Z does not dream of labor
by kitten_mittens_ on Wednesday April 27, 2022 @05:54PM
(#31186285)
Q1 of 2022 is just shy of $430K according to the St. Louis Fed.
> The average house sold in 1946 cost 1.75X. The median salary was X.
> The average house sold in 2022 cost 7.33Y. The median salary is Y.
Its clear from all the communications, unionizations, Great Resignation, and more that wages are completely broken.
And that above shows what it looks like.
We're one of the lucky ones. We're finalizing our recent house purchase. First time homebuyer. $375k , which was at the top of our budget. I make $150k, which is still a 2.5 factor differential... Which is .75 ABOVE what it would have been in the post-war boom 1946.
Im in my 40's, and its taken me 20+ years to actually get enough of a footing to even look at a proper house. I feel immensely sad for all younger. Can't afford a $600/mo mortgage so they're stuck with $1000 rents.
Loans are for people to borrow money when they don't need money.