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Housing market
(thelemmy.club)
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this post was submitted on 29 Jun 2026
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Not even an exaggeration. My parents bought their house in the 1960s for $14K. Their 30-year mortgage went almost to the year 2000 and their monthly payment was fucking $85 the entire time. They sold it fifteen years ago for $190K.
Damn never realized this but every boomer homeowner is actually an investment savant. Why are we all so stupid? Why can't we just do this? ^/s
The dumbest financial mistake you've ever made was not going into debt immediately to buy a home the day you were born. Should have planned ahead.
$14K in 1960 was $167,000 by 2010.
Average salary of a worker in 1960 was $3,700.
I paid $320K for my house in 2002 , which peaked in value to $1.6M by 2022. That was insane, it's now worth $1.2 or less and headed downward.
It should be worth $600K. People took out HELOCs on houses now descending in value.
Yeah, the location was not one of those places with seriously insane housing appreciation. Small town in Ohio. 14X appreciation is still pretty good.