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The 'old American Dream died,' Realtor details salary needed to buy a home, afford a middle class life in 2024 (finance.yahoo.com)
submitted 2 years ago by to c/personalfinance@lemmy.ml
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cross-posted from: https://lemmy.ml/post/10623652

TL;DR: Americans now need to make $120K a year to afford a typical middle-class life and qualify to purchase a home. Minimum.

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[–] 19 points 2 years ago (1 child)

The only thing around me that's less than 100k are parking spots...

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  • [+] -10 points 2 years ago* (3 children)

    It’s weird, I didn’t say I found those prices in your town. In MY town a 60s palace is ~ 100k and a middle class home as described by the author is 400k

    My point is that what is called a middle class home has slid way the fuck up market since the salad days of the 1960s.

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  • [–] 4 points 2 years ago (1 child)

    Not sure why you are getting down voted. It's true, house size has inflated significantly, and it drives cost. My first home was built in the 1970s and was 1500 sqft, bought for $136k in 2017 (Zestimate is about $200k now). My current one is about 3000 sqft and it's stupidly big, but it's what was available that's not a total fixer upper.

    I saw an article in WaPo the other day about house size and affordability, with one couple having a baby on the way and deciding not to move despite "needing" more space. Their house was crammed to the gills with stuff. So. Much. Stuff. I think removal of a lot of the stuff would help free up living space (so did the WaPo commenters).

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