>Why arent millenials buying houses anymore
>it's real
FUCK BOOMERS
HAVE YOU NOT FOUND YOUR ANSWER YET WITH THE OTHER 530245 THREADS YOU HAVE MADE
You're forgetting inflation.
Yeah this isn't adjusted for inflation. The inflation rate from then to now is a multiplayer of 4.46 . For example a new house back then costs $193,296 in today's money. Which is more than the average cost of a new house today at $188,900. Basically stop being poor and blaming everyone else for your failure OP.
Because we're dumping all of our money into crypto to escape the slavery boomers got us into.
Still. That income to NEW house ratio is fucking obscene.
Or imagine if you weren't a total piece of lazy shit and actually ponied up for a Harvard degree. The dividends back then for being some what educated by-today's- standards surpass anything we can imagine now, short of winning the lotto.
Not to mention sex was relatively safe, cars could be built for engine performance, and cocaine wasn't really illegal yet.
So the average income in the US is $71,783?
The average income is still $10,000 higher adjusted for inflation retard.
inflation is engineered for that effect.
it doesn't account for anything at a small scale though, for example around 5-6 years ago I was looking at a dinky condo in my city at 80k, it's the oldest high rise condo building in the area afaik and most people would be hesitant to buy it. Today it's over 10x as much and has all kinds of marketing around it. I'm sure they renovated the actual unit but come on.
CPI has two flaws, one it is at the highest macro scale and two whatever is measured is an arbitrary determination so it can be manipulated.