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   Kit Rhett Aultman (roadriverrail@signs.codes)'s status on Thursday, 31-Aug-2023 02:22:30 JST Kit Rhett Aultman

   • Claire-hime

   @AmyZenunim @waitworry Hm...I'm not quite sure about that timing. The median home price was on a pretty linear growth from the 70s the late 90s. Anecdotally, I don't remember cost of housing being a major topic of conversation through much of the 90s. The slope really goes nuts somewhere around 2000.

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     Kit Rhett Aultman (roadriverrail@signs.codes)'s status on Thursday, 31-Aug-2023 15:08:31 JST Kit Rhett Aultman

     in reply to

     • Claire-hime
     • We Got One

     @psychictides @AmyZenunim @waitworry Comparing a historical nominal value to a historical real value doesn't make sense.

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     We Got One (psychictides@jorts.horse)'s status on Thursday, 31-Aug-2023 15:08:39 JST We Got One

     in reply to

     • Claire-hime

     @roadriverrail @AmyZenunim @waitworry maybe home price was on linear growth but compare that to real wages

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     Kit Rhett Aultman (roadriverrail@signs.codes)'s status on Friday, 01-Sep-2023 01:23:00 JST Kit Rhett Aultman

     in reply to

     • Claire-hime
     • We Got One

     @psychictides @AmyZenunim @waitworry At least according to official statistics, real wages did fall in the early 80s (I'd guess a mixture of inflation and the anti-union practices) but had recovered by the late 80s. Since their peak in the late 70s, they've been relatively flat. But nominal increasing median home prices isn't a comparison; we'd need *real* median home prices. 1/2

     (source: https://fred.stlouisfed.org/series/LES1252881600Q)

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     We Got One (psychictides@jorts.horse)'s status on Friday, 01-Sep-2023 01:23:08 JST We Got One

     in reply to

     • Claire-hime

     @roadriverrail @AmyZenunim @waitworry so what I mean is that although home prices didn’t spike in the 1980s, real wages became depressed and never recovered, so home prices actually did spike because housing became less affordable as real wages became more worthless

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     Kit Rhett Aultman (roadriverrail@signs.codes)'s status on Friday, 01-Sep-2023 01:26:19 JST Kit Rhett Aultman

     in reply to

     • Claire-hime
     • We Got One

     @psychictides @AmyZenunim @waitworry Please understand I agree with your statement in a more abstract sense, yes, housing prices have likely risen relative to real wages. My only disagreement is about timing. I don't believe it was connected strongly to the fall of the Berlin Wall, especially since foreign policy circles saw that as dramatic but not the end of communism; the coup against Gorbachev wouldn't come for another 2 years and could have kicked the can down the road a decade. 2/2