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= The average cost of a house in 1933 (final year if the great depression) was roughly 4 years wages, it is now closer to 10 years wages. =

I give up
This needs to change. I know the speculators and many homeowners will cry over "lower property values", but housing is meant for living, not wealth accumulation

Current zoning laws severely restrict supply, and with demand constant or growing prices are skyrocketing. This invites the speculators who just latch to any appreciating asset

Relaxing zoning laws would increase supply and depress prices. This would chase the speculators away. Yes, some people will be underwater (mortgage greater than the home value), but far more people will own homes

I had an existential crisis earlier looking up houses. I make like $55,000 a year but my job can go up to like $100,000 on the high end. The issue is how long would that take. 5 years from now I'll be 30. Will I be making $75,000? Will I get baby 2-3% raises and only be making 60 something thousand? Will inflation absolutelyup whatever I gain? By the time I'm "at the top" of my pay will that be equivalent to what I make now after inflation? Its kind of scary. Houses doubled in price in the past 10 years. In the early 90s making like $100,000 is like making $200,000+ now. It's like you can't really beat the curve. Every step forward you take everything just catches up with you

Wasn't it 4 years wages even in 1965?
Me and my sister bought a multi-family house with three apartments back in 2009 shortly after the global financial crisis for 200.000€ (with roughly equal parts money and a bank loan, we got really lucky). Had to renovate large parts of it over the span of 6 months. In 2014 I sold my part of the house to my sister because I needed money and I wanted out anyway. Same house is now worth 650.000€. I now realize, I'll never again get as close to owning real estate as this

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