| The median price of a home in the United States is currently $412,020. Median weekly earnings of the nation's 122.1 million full-time wage and salary workers were $1,118 in the third quarter of 2023 (1118x52=58136) 412,020/58136=7.09 years wages to pay off a home Median house price 1980: $64,600 The 1980 median family income was $21,020 64600/21020=3.07 years wages to pay off a home https://www.redfin.com/us-housing-market https://www.gobankingrates.com/investing/real-estate/how-muc... https://www.bls.gov/news.release/pdf/wkyeng.pdf https://www.census.gov/library/publications/1982/demo/p60-13... edit more detail 2023: 412020 30 year loan at 6.5% = Total principal paid $412,020 Total interest paid $525,508.80 Monthly payments $2,604.25 58136/12=monthly salary of 4844.6 53.7% of monthly pay going to home loan (at 0 down) 1980: 64600 30 year loan at 14% = Total principal paid $64,600 Total interest paid $210,953.77 Monthly payments $765.43 21020/12=monthly salary of 1751.6 43% of monthly pay going to home loan (at 0 down) |