The interest rates in 1980 were over 14%. Today they're around 7%. An average home went from $47k to $416k (about 9x). The average annual income went from $21k to $64k in that time (about 3x). If you try to compare household income, things don't look much better. That is now about $75k, so that's still 35% of income, and that's often with two people working. The housing crisis is real, and if we need find a way to fix it now.
The interest rates in 1980 were over 14%.
Today they're around 7%.
An average home went from $47k to $416k (about 9x).
The average annual income went from $21k to $64k in that time (about 3x).
If you try to compare household income, things don't look much better. That is now about $75k, so that's still 35% of income, and that's often with two people working.
The housing crisis is real, and if we need find a way to fix it now.