Re:Supply Constraints Do Not Explain House Price, Quantity G...
by scoofy on Thursday March 20, 2025 @03:14AM
(#43420453)
Net worth calculators[^1] would put this woman at the 88th percentile of wealth in the US. Yes, I think that counts as wealthy.
I obviously think it's mostly absurd if you think a woman who bought 50 years ago in SF has a house worth only 50K. The vast majority of houses in SF that would have cost 50K, 50 years ago. The average home in 1976 was $65K,[^2] and the median home price last year in SF was $1.4M, at effectively the 90th percentile of American net worth. If you don't think top 10% of wealth in America counts as wealthy, then I don't know what to tell you.
I obviously think it's mostly absurd if you think a woman who bought 50 years ago in SF has a house worth only 50K. The vast majority of houses in SF that would have cost 50K, 50 years ago. The average home in 1976 was $65K,[^2] and the median home price last year in SF was $1.4M, at effectively the 90th percentile of American net worth. If you don't think top 10% of wealth in America counts as wealthy, then I don't know what to tell you.
[^1]: https://dqydj.com/net-worth-percentile-calculator/
[^2]: https://imgur.com/1976-article-on-housing-prices-sf-bay-area...