Look at the per capita income in the 70s, it seems like a consistent 10% increase every year. So, what some people said about their salary in the 70s wasn’t the exception. Income went up 145% between 1970-1980. Income went up only 85% between 1980-1990. Income went up only 55% between 1990-2000. Income went up 19% between 2000-2010.[/quote]
AN, are these numbers nationwide statistics or for SD County? And what do the numbers in the parentheses mean?
All by themselves, these numbers really mean nothing unless you put the average SFR sold prices for that year next to them. Then list the average size family in that locale during that year. (Remember that the “avg family-size” was larger 40+ yrs ago.) And, just for fun, list the average prevailing (conventional) 30-yr fixed interest rate for that year next to each year.
I maintain that at all times, the AVERAGE price paid for a SFR in a given area was 4-6 times the total gross household income for that area, depending on locale.
And this is still true today in all but the most expensive locales (SD County not being one of them).
It didn’t matter what the prevailing mtg interest rate was or is or whether gas was .34.9 or $3.95.9.
With this census data, are you attempting to infer that life in the US was easier for the “average” parents in the ’60’s thru ’80’s or that the “avg” buyer could buy more house in those eras than you or I could buy today?
