No, they won't. If _everyone_ is making less money, housing prices will adjust accordingly. What the article doesn't mention is that the 80s were an excellent time to buy a house.
Re:Curse of class of '09
by silentbicycle on Saturday May 09, 2009 @08:47PM
(#601661)
To what extent has the medium house price changed over the last year or two, though?
The biggest purchase the typical worker will make is a house purchase. Assuming "typical" means median, and assuming (big assumption) that the median worker buys a median house on a married two-income household, the median household is losing around $200,000. The median house price in the United States is $220,000.
The median college graduate family for the class of 2009, when they hit their forties, will be behind their expectations by about a house. Ouch.