you are viewing a single comment's thread
view the rest of the comments
[–] 57 points 2 months ago* (last edited 2 months ago) (10 children)

The oldest sale I could easily find was 1988, when it sold for $338,000 or about $956,400 today. In 1960 when it was built it likely sold for $15,000 and $22,000 so about $249,077 today. So from 1960 to 1988 it increased by 3.84x and from 1988 to now it increased by 3.16x. Wages increased by around 5.2x from 1960 to 1990 and about 2.4x from 1990 to 2025. In 1988 the house was 10.5x the average American families gross annual income. In 1960 it was 3.9x the income and today it's 36x the average American families gross annual income. I didn't really account for the area so the last part should really be done for California. Even today it's not fair to lump in the economics of somewhere like West Virginia or Mississippi with California. Either way it's probably more accurate to use the median instead of average.

  • source
  • hideshow 10 child comments
  • [–] 17 points 2 months ago (7 children)

    San Jose is not considered Southern California. It is Silicon Valley.

  • source
  • parent
  • hideshow 7 child comments
  • [–] 18 points 2 months ago (5 children)

    visits silicon valley

    no silicon in sight

    mfw

  • source
  • parent
  • hideshow 5 child comments
  • [–] 2 points 2 months ago (3 children)