Why buying a house today is so much harder than in 1950? And how it affected future generations.

I came across this topic when I saw how the pandemic maybe going to create a massive wave of homelessness especially among young adult, renters who lost their jobs, and young families. This predication is due to the common practice that landlord can and will evict faster than a bank.

The state of New York opens the window for evictions today is why the subject matter came to mind. It only applies if the tenant owes rent. However, this states has lots of programs in place to aid people and I pray no one faces an eviction in the midst of this uncertain pandemic.  We don’t need another death wave.

Those who wasn’t born yet to buy a house or too young or wasn’t allowed to cash in on the golden age of house buying during 1950’s to the 1960’s [Happy Days Era] has been shut out. This home security bubble burst in the late 1970’s to 1980’s and it’s been pretty difficult for anyone coming of age during and afterward to own a home. If your families didn’t have the money to give you for a down payment. It’s difficult, next to impossible to save for the down payment with the yearly increasing cost of rent. How were anyone to save up for a down payment with the stagnant wage and increasing rent?

The ridiculous deregulation of the 80’s created the housing crash of the 2000’s.  The over inflate prices kept rising.

I have noticed those who were alive and able to cash-in on home ownership during the golden window of  opportunity years often do not understand the plight of others. That others have been systematically locked out. It’s not that they are lazy, do not want to work, can’t manage money, or any of the other discriminatory malarkey that’s often spurt as to why the younger generation isn’t doing as well as their grandparents.

Discriminatory lending practices and outright fraud kept a lot of African American World War II vets from using the GI bill to buy houses in 1950’s and 60’s. It’s a  shame considering that three out of every four black men born between 1904-1924 fought in that war. The draft age was 21-42.  Yap, the very old black guy you may see sitting on a porch in a deteriorate black community could possible be a World War II vet who was denied the opportunity of home ownership.

Now, this is the kind of stuff that I find to be depressing as hell— in my opinion.

 

The Changing Math Behind Home ownership in the U.S.

Year Median Home Value Median Rent Household Median Income
1950 $7,400 $42 $2,990
1960 $11,900 $71 $4,970
1970 $17,000 $108 $8,734
1980 $47,200 $243 $17,710
1990 $79,100 $447 $29,943
2000 $119,600 $602 $55,030
2010 $221,800 $901 $49,445

 

Why buying a house today is so much harder than in 1950

About unholypursuit

A. White, an award winning former librarian, who is also a long time member of Romantic Time and Publisher's Weekly. A. White has been writing for over fifteen years. She took classes in creative writing in college, specializing in ancient myths and legends. and later at a local community center while living in Chicago. In college she won the national contest to verbally list every country in the world, it's capital and ingenious language. Her works are mainly horror, fantasy, extreme, and sci-fi as well as, as some may says, "the truly strange predicament and puzzling." Books that I've written are "Clash with the Immortals, and eleven others which are part of the "Unholy Pursuit saga,". She has been working on the Chronicles since 2007. She wished to complete them all before introducing them to public so the readers wouldn't have to for the continuation to be written. The ideas of the book come from classic literature such as whose work greatly influence the world world such as Homer, Sophocles, Herodotus, Euripides, Socrates, Hippocrates, Aristophanes, Plato, Aristotle and many more. The "Book of Enoch" influenced the usage of Azazael as a main character and love interest. I created the primary main character from the Chronicle of Saints. I wanted to show them as real flesh and blood with thoughts, desires and yearning as any human. Not as they are so often depicted. So I created one of my own to show her as a real human that everyone can relate to.
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13 Responses to Why buying a house today is so much harder than in 1950? And how it affected future generations.

  1. Saksgirl says:

    I heard that a lot of of these loans went to people who never served in the military. That a lot of the people who built houses with VA loans were not veterans. While the real vets are locked out.

    Liked by 2 people

  2. Free Minds says:

    what!! For a minute I thought demolitions and struggle to buy a house only happens in my home country,

    Liked by 2 people

    • I don’t know what your country maybe but it isn’t a problem unique to your country. It’s sad to say…no it doesn’t happened in your country alone. Obtaining a home in America in this day and age can be quite difficult.

      Liked by 1 person

  3. boosdiet says:

    House cost to much. You never be free of credits and Dept

    Liked by 2 people

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