Not only did the majority of US #households become dual #income, but home prices went parabolic
So a home went from 2-3x one person’s income, to 5-6x two people’s income
All part of the illusion…
HOMES ARE NOT ASSETS-THEY ARE CONSUMER GOODS
Using the #CPI measure of #inflation (flawed metric), the median home purchased in 1963 = $18,500 should now be $153,000 in 2018
The median sales price is $338,000
Look what happened during the historically low #interestrate regime
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