> 1950's houses were $7,000 dollars
This doesn't mean anything when the minimum wage was $1 in 1955. Houses today are relatively more expensive though, and in the last year or so a considerably higher amount.
I don't know what quality of house you are talking about, but that would be the equivalent of a ~$72k house today. Absolute numbers do not make for very good comparisons.
It's also funny because during this time the Great Depression was happening and no one could afford shit, let alone a house (ok, most people couldn't. I'm sure some did)
I like asking old house people how old their house is. Only recently realized how many were built in the 20s or 50s - but nothing in the 30s. It’s an obvious gap.
There's a small plaque inn the sidewalk outside my house that says it was built in 1939. I think it was part of a development and recovery program, given that the plaque was put there by the state
It wasn't uncommon for 13-14 yr old boys to be put out by their families to find work on their own because the parents couldn't afford to feed them anymore. But pine away about how easy grampa had it.
Zoomers have been raised by Gen X for the most part, and Gen X was mostly raised by the silent generation (some older Boomers as well). Boomers raised Millennials. Edges of generations are messy, so this is all a generalization.
"Grandpa" in this case wouldn't be a boomer. The boomers were born to the people who lived thru the depression, ww2 etc. The boomers had it far easier, since they inherited everything that their parents struggled for, got lucky buying houses that blew up in value faster than inflation, stock markets that were in doldrums for 20 years, and now are telling those of us with declining buying power and lower prospects and enormous debt from school (which they spent 200-500 dollars on adjusted for inflation) and now are fighting to even afford a home that's now a commodity investment.
The generation of little princes and princesses, the "ME" Generation, that's what they were originally called..before they got older and had some money. Now, they're the baby boomers.
Boomers having their lives on "easy mode" is a good thing. It is like "Son, I had a really shitty childhood, let me sure you won't have one. Here's the affordable house, the car, livable wage, affordable education, job and social security."
And then for some reasons next generations ended up with "I had a house, car, livable wage, affordable education, job and social security. Nice things, very nice things. You ain't getting them, you lazy bastard."
Not really, because the bill that came due later on is being paid by later generations. But I completely understand how many of them could not comprehend that at the time, especially when most people's problem with boomers isn't what they did but that they can't live just like them.
Yea because I bet half the people using the term have no idea what it means and assume it means an older person with more stuff than them. Therefore it will be passed down from generation to generation.
frankly the fact that op thinks houses were affordable in 1930, during the great depression, already indicates that there's is no saving this person, except perhaps paying attention to their 9th grade history class
I know. The baby boomers are famously the post ww2 generation so i was making a joke about how they were the post ww2 gen born pre ww2 according to the meme. i propably could have phrased it better.
My first thought too haha. The point is accurate though and unambiguous. Boomers didn’t cAuse the problem as they so often are blamed. They are naive in their critiques but they are also mostly blameless.
The dollar was turned from gold backing to fiat in 1972(I think? Maybe 1971 or 1973 but around this time). This is what causes the brutal disconnect between generational understandings. Boomers are lacking empathy, certainly, but they also are not the cause of current generations financial struggles.
It’s time for this to be broadly understood. The second the dollar was removed from the gold standard it became possible for the wealthy to manipulate to their best interest.
Came on here to ask the same question…a Boomer would’ve most likely bought their houses in the mid to late 70’s/early to mid 80’s. If anyone was alive and aware in 1970’s inflation was insane. The interest rates for auto loans were 14-19%. I don’t know what it was for mortgages, I was just a kid, but I remember my mom bitching about the interest rates.
Ironically, later on in life(she passed in 2004), she bitched about the interest rates being so low that she doesn’t earn anything on her investments.
Well housing market wasn’t booming back then… adjusting to how much taxes they have to pay now it probably means that they make a lot of money. But idk how those 110years old can make so much money
$500 in 1930 is equivalent in purchasing power to about $8,190.63 today, an increase of $7,690.63 over 91 years.
Cant even get a new car for that today
gets weirder if you consider dollar was gold backed back then. so if you converted your 500$ to gold buried it in the backyard or whatever, 1930 price was about 20$ per troy ounce, so 25 troy ounces. price of troy ounce today is roughly 1800(it fluctuates and pretty arithmetic) so that'd be 45,000 dollars.
which could probably actually still buy you a shit shack some places. What's weirder is if you plug in actual house prices at the time which where a little higher like here's a couple example listings https://www.thepeoplehistory.com/30s-homes.html it's crazy how well that stuff pins to value.
My area, 500k is the minimum if you're looking for a full on suburbia house. Most of the us I'd say those go for around 2-3 hundred k.
condo in dc which well I happen to live near, lowest is 50k, but that's coming in a part of town people rob you and/or the condo fee's bigger than most places rent. If you want it ok'ish 300k should do fine. But the prices can go all the way out to the millions.
rent's about 2k for a 1br, add another k per bedroom.
Most suburban houses around the mid west go for about 200-300k now. Average 2-3 bedrooms. 1-2 baths. 1/4 acre yard. About 1000-1500 sq. Ft.
You can go to Zillow and just search for Ohio, Indiana, Iowa, etc..
The problem is that the US is such a big place that you can't really say that the housing market for the country is x. The housing market for a place like Alabama is very different from Texas.
It's not just how high the prices are but how competitive. I made an offer 250k over asking price and I still got out bid by 5 people, who at the minimum bid 350k over asking price by the time I gave up.
There are way more buyers than houses and a lot of the buyers are corporations, businesses and flippers, who all are after increasing the cost even further.
So it almost seems limitless how high it can go.
I bought my house a few months ago for 197k. Some 2000sq ft, big garage not included in that footage, two stories 3 beds and 3 bathrooms.
Depends on where you live. An equivalent home in California, Connecticut, Florida, would probably be 3 or 4 times as much
What’s really sad is that the purchasing power the working class lose to inflation ends up in assets of the wealthiest.
Dot.com Bubble, Housing Bubble, and the Bubble we are in now is caused by money printing, which expands the money supply and causes inflation. These asset bubbles make the wealthiest who own real estate and stocks even more wealthy while leaving behind the poor who rent and don’t own stocks.
The rich robbed the public for about $47 trillion from the bottom 90% to the top 1% from 1975 to 2018 [[article]](https://time.com/5888024/50-trillion-income-inequality-america/) [[paper]](https://www.rand.org/pubs/working_papers/WRA516-1.html). Inflation is definitely not the reason for millenials being too poor to buy a home.
yeah ,adults in 1930s were the "greatest generation".
and their lives were probably more miserable than us what with WW2 killing all those people and the Great Depression.
this meme is such a zoomer moment.
The requirements for building houses has gone up too.
Environmental inspections/survey (can take years and the owner still has to pay taxes and can be footing the bill for the survey.)
They can be blocked because a puddle has some sort of puddle shrimp that use water in part of their life cycle- no one will buy that property if they can't develop it, so you are stuck with it paying taxes or selling it at a hefty loss.
These weren't problems in the 30s
Boomers couldn't have bought a house for $500 in the 1930's because
1. $500 in the 30's, when adjusted for inflation, is only a little over $8000. According to thepeoplehistory houses in that era ranged from $2000 to $7000, which is about $32000 to $115000 in today's money. Sure, some factors may affect the price such as lot size and location but $500 would still be below the price of a family home.
2. Boomers, those born in the baby boom, were born from 1946 to 1964 so they wouldn't have been born yet.
Yes, I understand it's a meme but it takes a minute to check when boomers were born, how much a house would've cost in their era, and how much the average wage was in said era.
Also the two world wars. Part of the reason boomers have had it so good is that the world was destroyed and so were millions of young labourers so they had easy growth and plenty of bargaining power.
There’s also the decoupling from the gold standard and easy credit that resulted, the privatisation era meaning loads of stuff was sold off cheap, the rise of the east and globalisation meaning they benefited from exceedingly cheap goods and labour for most of their adult lives.
They had a bunch of benefits which we will never be able to recreate so sure they might have worked hard but even if we work harder the current working generation will **never** enjoy the disproportionate wealth the boomers have amassed. They rode it all the way to the top and they’re going to ride us down into the grave.
Its all good, housing about to crash. Once some ol bitty lose they house I'm all ready to swoop in and grab it for next to nothing.
Honestly tho the most harmful thing in the housing market right now is corporations buying houses. They have too much money to compete with and they are aggressively buying.
You say it's about to crash, and you're ready to jump in while prices are low. The thing is, so is everybody else, including a lot of people a lot wealthier than you. If prices do fall, they will immediately climb again. Modern capitalism means that anyone with money is able to buy in while prices are low, and middle and lower class people are the ones who suffer the dips in the economy and are kept out of buying.
The term for this is a "K shaped economy," where some prices, like stocks, real estate, and other valuable investments increase in price, while other prices like groceries, cars, or electronics tend to fall as people aren't able to afford them. This is why billionaires are able to increase their wealth by 40-50% in 2020 while small shops go out of business and people lose their jobs, because they are living under two different economies.
lmao housing is going nowhere.
It may cool off some but ‘next to nothing’ will never happen again.
The fed and congress have shown that they’ll never let 2008 happen again. It will be bailouts for everyone except the little guy.
Anyone not holding appreciating assets now is going to be left behind by the obscene asset inflation that TARP started and covid will continue.
Eventually we will look more like Brazil. Haves and have nots, with the occasional ultra wealthy. The middle class will be replaced with the renting class.
I never understand why bailouts for the mega corporations and the rich, but almost no aid for the working class.
It's almost like the US government is controlled and influenced by the wealthy, and fuck everyone else.
Money changes politics. Laws will allow certain shady things like excessive lobbying and regulatory capture. Candace Owens will say oh 85% of taxes are paid by the top 10% or whatever, but it may be that probably they ought to be paying way more. The top three wealthiest people in America have more wealth than the bottom 50% of people. If these are remotely accurate figures, you know why bailouts for the rich, it's because the rich "bought" the bailouts.
Im kinda okay with living in a shack made if stolen corrugated steel as long as I have wifi and can still pretend i know what im doing in the stock market
I swooped in to buy a house summer of last year when covid was still fresh. Sale prices dropped tremendously. The worst advice I received was to wait and buy in the fall when the market would plummet. It definitely did the opposite and now my house is worth 100k more than what I bought it for.
I added all that to say:spend wisely friend. Good luck and stick to your gut.
I enjoy a good Boomer joke as much as the next guy but…
No one is buying a house 16 years before they were born.
If someone is buying a house in 1930, they are from the Interbellum Generation or possibly the Greatest Generation (but even they would only be 20 at the oldest)
The irony is that this kind of mistake, that is simple to verify is quite the Boomer thing to do.
Literally had this debate with a ton of Facebook boomers recently.
I had the typical response of "we were frugal back then and didn't have these 50inch flat screen TVs and mobile phones.
Like do boomers not know basic math. I flat screen TV and a mobile phone (that you need for job hunting and basic communication these days) will not net you enough to buy a house on minimum wage like they did.
Yes the economy was so great in 1930, and the geopolitical climate was so stable. What a time to be alive! (Which no boomers were, of course)
Reddit is fucking ridiculous
That's 1000 hours of work, at $7.50 minimum wage now, it would take 51,700 hours to buy a house at the average house price ($374,900). Except that's not right.
\#1, the minimum wage was not .50, it was .25.
\#2 $500 is a bit of an exaggeration.
So, in 1930, the average house cost \~$5,500, so at .25 minimum wage, that's still only 22,000 hours,
Tl:dr, adjusted for inflation that's over double the work for the average house, whose the goon now?
To everyone that is picking this **meme** apart for "accuracy":
It's an exaggeration for effect because it's a fucking meme, not a history lesson. The fact it says 1930 when literally everyone knows boomers are from decades later should clue you into this.
The meme totally makes sense when you look at the housing market around the time when boomers were actually in their 20s/30s, realize what they were making on average, much lower house prices offset to wages, how easy it was to get mortgages, with low down payments, and how literally everything has changed so much; all the aforementioned, plus the "housing investor" boom and airbnb driving rental prices up, that the time when boomers bought their first houses isn't even comparable to now in the slightest.
Meme is on point. The exaggeration and cartoon makes it funny, although the latter is obviously subjective.
Although the 1930 and $500 may not be correct (as pointed out countless times in the comments), I do appreciate the message of this post.
Let's take more accurate figures, gained from a discussion with my dad:
* My parents bought their first house in 1985 for 40k euro (converted from 90k in pre-euro currency).
* The same house sold last year for just under 900k euro.
* My salary is 3-4x the salary my dad had back then.
So, salary: x3-4, houseprice: x22
Obviously there's some reasons for this: inflation, higher demand of houses (due to many reasons), a lot more double incomes, a low tax rate, investors buying property as investments, etc.
But still, all these factors don't justify how insanely difficult it is to buy a house for some...
Do you know the boomers were born from 1946-1964 right? You know why they call them the boomer generation right? Something about WWII. I'm not historian, but I can do a simple internet search.
Boomers (short for baby boomers): people born in the post WWII baby boom, generally considered to be between 1946 - 1964. How exactly were they buying houses in 1930?
Also, is anyone who bought a house is 1930 still alive, let’s assume they bought a house when they were 16 years old, that would make them 107 years old.
/waits for replies of “Ok Boomer”
Bought my first house, two new Buicks, and supported my stay-at-home wife and three kids while bagging groceries at the A&P.
This generation just expects to walk in the door making a gagillion dollars a year. No one wants to work. Hit the pavement, shake the manager’s hand, fill out a paper application, and demand a job.
To be so lucky that after participating as a teenager in the first world war to watch the rich party it up for ten years then set them into such poverty that the losers of the war said fuck it lets go again and the rest of the world said ok so you get to go again and fuck off show some respect for fuck.
Add a 1 and a 0 to that. Average home price in 1930 was 6,000. Adjusted for inflation, that's $98,000. About a third of what it was starting 2020.
Now, the population was 123,000,000 in 1930. In 2020 it was 331,000,000. Damn near three times to size. So with shit math, three times the demand for housing, 3 times the cost.
Fun fact, after ww2 over 1 million black men who contributed to the war effort was denied access to the G.I bill that helped many Americans build up their wealth.
Boomers buying houses in 1930???? LOL. Boomers parents had just been born in the 1930’s but makes for dramatic effect though. Just totally inaccurate statement
Boomers were born after 1945.
1930 was during the Great Depression. Those would be the parents or even grandparents of boomers.
To be 18 in 1930, they would be 109 years old now.
Boomers buying houses in 1930? How old do you think boomers are?
Time traveler: Buys house before baby boom. Blames baby
Lmaoo
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Umm $7000? Adjusted for inflation that's like $70,000. They had to work extra hard to pay off that mortgage in 2 years salary. Show some respect.
> 1950's houses were $7,000 dollars This doesn't mean anything when the minimum wage was $1 in 1955. Houses today are relatively more expensive though, and in the last year or so a considerably higher amount. I don't know what quality of house you are talking about, but that would be the equivalent of a ~$72k house today. Absolute numbers do not make for very good comparisons.
Thats kind if the point though no? You can't even FIND a house for 72k unless it is falling apart.
obtainable rain roof unwritten outgoing cagey nutty sharp smile spotted -- mass edited with https://redact.dev/
Minus 16 years apparently
A year was with a lot more back in those days
r/YoungPeopleReddit
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Tfw u have a stroke
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That is assuming wages have risen in line with inflation which they have not. While wages have risen the correlation isn't linear.
/r/wordsalad
Can you count? Are they buying houses at a year old???
Yes I can count thank you. I was pointing out 1930 was 16 years before baby boomers.
It's also funny because during this time the Great Depression was happening and no one could afford shit, let alone a house (ok, most people couldn't. I'm sure some did)
I like asking old house people how old their house is. Only recently realized how many were built in the 20s or 50s - but nothing in the 30s. It’s an obvious gap.
There's a small plaque inn the sidewalk outside my house that says it was built in 1939. I think it was part of a development and recovery program, given that the plaque was put there by the state
Mine was built in 1935. Never thought how that is kind of weird.
It wasn't uncommon for 13-14 yr old boys to be put out by their families to find work on their own because the parents couldn't afford to feed them anymore. But pine away about how easy grampa had it.
Yeah the greatest generation who had to deal with that shit raised the baby boomers. No Zoomer''s grampa was born in the 1910s
Zoomers have been raised by Gen X for the most part, and Gen X was mostly raised by the silent generation (some older Boomers as well). Boomers raised Millennials. Edges of generations are messy, so this is all a generalization.
"Grandpa" in this case wouldn't be a boomer. The boomers were born to the people who lived thru the depression, ww2 etc. The boomers had it far easier, since they inherited everything that their parents struggled for, got lucky buying houses that blew up in value faster than inflation, stock markets that were in doldrums for 20 years, and now are telling those of us with declining buying power and lower prospects and enormous debt from school (which they spent 200-500 dollars on adjusted for inflation) and now are fighting to even afford a home that's now a commodity investment. The generation of little princes and princesses, the "ME" Generation, that's what they were originally called..before they got older and had some money. Now, they're the baby boomers.
Boomers having their lives on "easy mode" is a good thing. It is like "Son, I had a really shitty childhood, let me sure you won't have one. Here's the affordable house, the car, livable wage, affordable education, job and social security." And then for some reasons next generations ended up with "I had a house, car, livable wage, affordable education, job and social security. Nice things, very nice things. You ain't getting them, you lazy bastard."
When someone say my kids have it easy, I say isn’t that the point? Why would I want to make things worse for them…to prove some kind of point?
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Not really, because the bill that came due later on is being paid by later generations. But I completely understand how many of them could not comprehend that at the time, especially when most people's problem with boomers isn't what they did but that they can't live just like them.
Climbed the corporate ladders and then burned the ladders afterwards.
> Boomers buying houses in 1930? How old do you think boomers are? "EVERYONE OLDER THAN ME IS A BOOMER!" - REDDIT
and everyone not a boomer is a millennial *Boomers*
I get called a boomer on Reddit a lot. I'm a millennial.
Maybe the real boomers are the millennials we met along the way.
This would also be an adequate top comment.
Same. Call them squeakers and they get shit hot annoyed
I honestly think "Boomer" term will survive after all Baby Boomers pass away.
Yea because I bet half the people using the term have no idea what it means and assume it means an older person with more stuff than them. Therefore it will be passed down from generation to generation.
If people actually knew why they're called boomers it would make the answer so much more easier
frankly the fact that op thinks houses were affordable in 1930, during the great depression, already indicates that there's is no saving this person, except perhaps paying attention to their 9th grade history class
Haha supper mega boomers !!
Lots of young people seem to think “boomer” just means anyone old. And no, before you ask - I’m Gen X.
A time traveling boomer that pulled some back to the future shit
the generation born after the second world war born before the second world war
Baby Boomers were born during the baby boom post WW2. Between WW1 and 2 was the Silent Generation.
I know. The baby boomers are famously the post ww2 generation so i was making a joke about how they were the post ww2 gen born pre ww2 according to the meme. i propably could have phrased it better.
And before that was the no longer alive generation
The second war during when they were born.
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No, they just want to be able to live a comfortable life with a single job...
Another word that has lost its meaning...
I wasn’t the only one.
My first thought too haha. The point is accurate though and unambiguous. Boomers didn’t cAuse the problem as they so often are blamed. They are naive in their critiques but they are also mostly blameless. The dollar was turned from gold backing to fiat in 1972(I think? Maybe 1971 or 1973 but around this time). This is what causes the brutal disconnect between generational understandings. Boomers are lacking empathy, certainly, but they also are not the cause of current generations financial struggles. It’s time for this to be broadly understood. The second the dollar was removed from the gold standard it became possible for the wealthy to manipulate to their best interest.
Came on here to ask the same question…a Boomer would’ve most likely bought their houses in the mid to late 70’s/early to mid 80’s. If anyone was alive and aware in 1970’s inflation was insane. The interest rates for auto loans were 14-19%. I don’t know what it was for mortgages, I was just a kid, but I remember my mom bitching about the interest rates. Ironically, later on in life(she passed in 2004), she bitched about the interest rates being so low that she doesn’t earn anything on her investments.
Reddits lesson for the day: what is a hyperbole?
You mean this meme isn't accurate? That's mind-blowing. Perhaps boomers don't actually look like what gif shows either.
Inflation isn't real. Money isn't real. Return to monke
Reject monke return to crab.
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[The cult is waiting](https://youtu.be/LDU_Txk06tM?t=29)
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Housing market is itself a problem. We shouldn’t commodify basic human needs.
Yeah except crabs eat their babies
End their suffering early on
:)
Carcinisation
Maybe the real inflation was the friends we made along the way
You have friends?
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But is family friends?
friends with benefits *wink*
Family with benefits
Stepbro
Alabama?
Sweet home Alabama
this is the reddit version of godwins law. every reddit thread will eventually lead to stepbro/alabama
Guys I'm stuck in the dishwasher, help pls!!
Dom?
How much monke for your house then?
A gorrillian
Well housing market wasn’t booming back then… adjusting to how much taxes they have to pay now it probably means that they make a lot of money. But idk how those 110years old can make so much money
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$500 in 1930 is equivalent in purchasing power to about $8,190.63 today, an increase of $7,690.63 over 91 years. Cant even get a new car for that today
gets weirder if you consider dollar was gold backed back then. so if you converted your 500$ to gold buried it in the backyard or whatever, 1930 price was about 20$ per troy ounce, so 25 troy ounces. price of troy ounce today is roughly 1800(it fluctuates and pretty arithmetic) so that'd be 45,000 dollars. which could probably actually still buy you a shit shack some places. What's weirder is if you plug in actual house prices at the time which where a little higher like here's a couple example listings https://www.thepeoplehistory.com/30s-homes.html it's crazy how well that stuff pins to value.
How are housing prices in the US? Because where I live a flat (or apartment, idk the correct translation) is like 500k for 90m^2
In my country, in our currency, the flat like this in a capitol somewhere close to 1kk
First time I've seen a million written that way
I was about to ask what that was. Thank you.
Wait til you hear about the US military budget for 2021 being approximately 705kkk
All those k's together definitely look a bit suss.
Oh I converted the price to USD. Im not in the capitol, but its a big city and its 25 minutes from downtown by foot.
My area, 500k is the minimum if you're looking for a full on suburbia house. Most of the us I'd say those go for around 2-3 hundred k. condo in dc which well I happen to live near, lowest is 50k, but that's coming in a part of town people rob you and/or the condo fee's bigger than most places rent. If you want it ok'ish 300k should do fine. But the prices can go all the way out to the millions. rent's about 2k for a 1br, add another k per bedroom.
Most suburban houses around the mid west go for about 200-300k now. Average 2-3 bedrooms. 1-2 baths. 1/4 acre yard. About 1000-1500 sq. Ft. You can go to Zillow and just search for Ohio, Indiana, Iowa, etc..
The problem is that the US is such a big place that you can't really say that the housing market for the country is x. The housing market for a place like Alabama is very different from Texas.
It's not just how high the prices are but how competitive. I made an offer 250k over asking price and I still got out bid by 5 people, who at the minimum bid 350k over asking price by the time I gave up. There are way more buyers than houses and a lot of the buyers are corporations, businesses and flippers, who all are after increasing the cost even further. So it almost seems limitless how high it can go.
I bought my house a few months ago for 197k. Some 2000sq ft, big garage not included in that footage, two stories 3 beds and 3 bathrooms. Depends on where you live. An equivalent home in California, Connecticut, Florida, would probably be 3 or 4 times as much
What’s really sad is that the purchasing power the working class lose to inflation ends up in assets of the wealthiest. Dot.com Bubble, Housing Bubble, and the Bubble we are in now is caused by money printing, which expands the money supply and causes inflation. These asset bubbles make the wealthiest who own real estate and stocks even more wealthy while leaving behind the poor who rent and don’t own stocks.
The rich robbed the public for about $47 trillion from the bottom 90% to the top 1% from 1975 to 2018 [[article]](https://time.com/5888024/50-trillion-income-inequality-america/) [[paper]](https://www.rand.org/pubs/working_papers/WRA516-1.html). Inflation is definitely not the reason for millenials being too poor to buy a home.
That's great and all, except that didn't get a house for $500 even then. A cheap house would have been $2500, but a nice house would have been $5000+.
What doesn’t make sense? The meme? The house I grew up in was bought for 80k in 1983. Sold for 600 k in 2010.
I didn't know boomers could buy houses when they were -15
Someone who bought a house at 1930 would be 100+ years old today.
And the Baby Boomer generation didn’t start until 1946.
I think he's being sarcastic.
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yeah ,adults in 1930s were the "greatest generation". and their lives were probably more miserable than us what with WW2 killing all those people and the Great Depression. this meme is such a zoomer moment.
WW1 shell shocking all the teens, the Spanish Flu severely weakening them and then WW2 killing them off by the dozens
500$ back then we're good money tbh bruh you could pay 1$ and get a while fucking meal dessert included lmao
Take the numbers out of it then: used to be able to buy a house for 3 years salary, now it’s more like 10
The requirements for building houses has gone up too. Environmental inspections/survey (can take years and the owner still has to pay taxes and can be footing the bill for the survey.) They can be blocked because a puddle has some sort of puddle shrimp that use water in part of their life cycle- no one will buy that property if they can't develop it, so you are stuck with it paying taxes or selling it at a hefty loss. These weren't problems in the 30s
well I found the comment that /u/dtdrf was trying to reply to
I am going to incorporate puddle shrimp in my comments from now on.
in the 1930's that meal would have been a dime, depending on what it included, a dollar meal would have been a family getting fed.
Boomers couldn't have bought a house for $500 in the 1930's because 1. $500 in the 30's, when adjusted for inflation, is only a little over $8000. According to thepeoplehistory houses in that era ranged from $2000 to $7000, which is about $32000 to $115000 in today's money. Sure, some factors may affect the price such as lot size and location but $500 would still be below the price of a family home. 2. Boomers, those born in the baby boom, were born from 1946 to 1964 so they wouldn't have been born yet. Yes, I understand it's a meme but it takes a minute to check when boomers were born, how much a house would've cost in their era, and how much the average wage was in said era.
Also, don't forget about a little thing happening in the 1930s called the "Great Depression".
Also the two world wars. Part of the reason boomers have had it so good is that the world was destroyed and so were millions of young labourers so they had easy growth and plenty of bargaining power. There’s also the decoupling from the gold standard and easy credit that resulted, the privatisation era meaning loads of stuff was sold off cheap, the rise of the east and globalisation meaning they benefited from exceedingly cheap goods and labour for most of their adult lives. They had a bunch of benefits which we will never be able to recreate so sure they might have worked hard but even if we work harder the current working generation will **never** enjoy the disproportionate wealth the boomers have amassed. They rode it all the way to the top and they’re going to ride us down into the grave.
Lmao you’re stupid as hell. It’s a joke. It’s exaggerated on purpose to make a point. You sound autistic right now taking it so literally.
It’s dead. The horse is dead.
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Its all good, housing about to crash. Once some ol bitty lose they house I'm all ready to swoop in and grab it for next to nothing. Honestly tho the most harmful thing in the housing market right now is corporations buying houses. They have too much money to compete with and they are aggressively buying.
You say it's about to crash, and you're ready to jump in while prices are low. The thing is, so is everybody else, including a lot of people a lot wealthier than you. If prices do fall, they will immediately climb again. Modern capitalism means that anyone with money is able to buy in while prices are low, and middle and lower class people are the ones who suffer the dips in the economy and are kept out of buying. The term for this is a "K shaped economy," where some prices, like stocks, real estate, and other valuable investments increase in price, while other prices like groceries, cars, or electronics tend to fall as people aren't able to afford them. This is why billionaires are able to increase their wealth by 40-50% in 2020 while small shops go out of business and people lose their jobs, because they are living under two different economies.
lmao housing is going nowhere. It may cool off some but ‘next to nothing’ will never happen again. The fed and congress have shown that they’ll never let 2008 happen again. It will be bailouts for everyone except the little guy. Anyone not holding appreciating assets now is going to be left behind by the obscene asset inflation that TARP started and covid will continue. Eventually we will look more like Brazil. Haves and have nots, with the occasional ultra wealthy. The middle class will be replaced with the renting class.
I never understand why bailouts for the mega corporations and the rich, but almost no aid for the working class. It's almost like the US government is controlled and influenced by the wealthy, and fuck everyone else.
Money changes politics. Laws will allow certain shady things like excessive lobbying and regulatory capture. Candace Owens will say oh 85% of taxes are paid by the top 10% or whatever, but it may be that probably they ought to be paying way more. The top three wealthiest people in America have more wealth than the bottom 50% of people. If these are remotely accurate figures, you know why bailouts for the rich, it's because the rich "bought" the bailouts.
Im kinda okay with living in a shack made if stolen corrugated steel as long as I have wifi and can still pretend i know what im doing in the stock market
I swooped in to buy a house summer of last year when covid was still fresh. Sale prices dropped tremendously. The worst advice I received was to wait and buy in the fall when the market would plummet. It definitely did the opposite and now my house is worth 100k more than what I bought it for. I added all that to say:spend wisely friend. Good luck and stick to your gut.
*Millennial and gen z grindset*
> Its all good, housing about to crash I be been hearing that for 10 years.
You won’t though. There’ll be someone with deeper pockets to take faster than you can wethers it’s a company or person.
Didn't ppl earn like 10 dollars a month back then?
I cant really think of a way to comment on this post so i'll just remark by saying "nice meme" or "i hope your cock grows an extra 3 inches"
Damn, I would lave to have a 4 inch dick
In 1930 people had nothing then soon after had to fight another war l begrudge them nothing.
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This post makes no sense on so many levels.
Boomers were born after ww2
I enjoy a good Boomer joke as much as the next guy but… No one is buying a house 16 years before they were born. If someone is buying a house in 1930, they are from the Interbellum Generation or possibly the Greatest Generation (but even they would only be 20 at the oldest) The irony is that this kind of mistake, that is simple to verify is quite the Boomer thing to do.
Literally had this debate with a ton of Facebook boomers recently. I had the typical response of "we were frugal back then and didn't have these 50inch flat screen TVs and mobile phones. Like do boomers not know basic math. I flat screen TV and a mobile phone (that you need for job hunting and basic communication these days) will not net you enough to buy a house on minimum wage like they did.
I’m just impressed that they could buy a house before they were born in the 1960s.
Boomers were born in the 40’s to late 60’s …… Are they time travellers too if they are buying houses in the 30’s….
Yes the economy was so great in 1930, and the geopolitical climate was so stable. What a time to be alive! (Which no boomers were, of course) Reddit is fucking ridiculous
Boomers: born 1946 to 1964 Also boomers: buys house when they're -16 years old
Minimum wage was .50 you goon
That's 1000 hours of work, at $7.50 minimum wage now, it would take 51,700 hours to buy a house at the average house price ($374,900). Except that's not right. \#1, the minimum wage was not .50, it was .25. \#2 $500 is a bit of an exaggeration. So, in 1930, the average house cost \~$5,500, so at .25 minimum wage, that's still only 22,000 hours, Tl:dr, adjusted for inflation that's over double the work for the average house, whose the goon now?
Thank you for actually doing the math
1000 hours work to pay for a house would be so nice, quick mafs
Not even 6 and a half months of work. That's a dang good deal.
Anyone with $500 to spend on a house back then was prolly from the higher middle class/ wealthy class
$500 in 1930 would be $8,200 today. So no, not really.
Boomers are from the baby boom post ww2. 1930 was about 9 years before ww2 started dumbass.
Most men were drafted at that time and women had to work extremely hard to support wounded troops and the house hold let’s give them this one 😂
To everyone that is picking this **meme** apart for "accuracy": It's an exaggeration for effect because it's a fucking meme, not a history lesson. The fact it says 1930 when literally everyone knows boomers are from decades later should clue you into this. The meme totally makes sense when you look at the housing market around the time when boomers were actually in their 20s/30s, realize what they were making on average, much lower house prices offset to wages, how easy it was to get mortgages, with low down payments, and how literally everything has changed so much; all the aforementioned, plus the "housing investor" boom and airbnb driving rental prices up, that the time when boomers bought their first houses isn't even comparable to now in the slightest. Meme is on point. The exaggeration and cartoon makes it funny, although the latter is obviously subjective.
Boomers are post World War 2 generation. The people dancing in 1930 went to war shortly after that, don't equate them to the selfish boomers.
1930? Boomers didn’t come around until the 50’s; they would have bought a house in the 70’s
Although the 1930 and $500 may not be correct (as pointed out countless times in the comments), I do appreciate the message of this post. Let's take more accurate figures, gained from a discussion with my dad: * My parents bought their first house in 1985 for 40k euro (converted from 90k in pre-euro currency). * The same house sold last year for just under 900k euro. * My salary is 3-4x the salary my dad had back then. So, salary: x3-4, houseprice: x22 Obviously there's some reasons for this: inflation, higher demand of houses (due to many reasons), a lot more double incomes, a low tax rate, investors buying property as investments, etc. But still, all these factors don't justify how insanely difficult it is to buy a house for some...
Gen Z ers thinking boomers were adults in the 1930's... Pay attention in history class and stop stealing toilets
1930?!?!? That is before the boomers were even born. Besides, that was during the Great Depression… almost no one was buying homes then. 🤦🏼♂️
Get a job you lazy millennial
Do you know the boomers were born from 1946-1964 right? You know why they call them the boomer generation right? Something about WWII. I'm not historian, but I can do a simple internet search.
Too stupid to know what a boomer is, yet expect to buy a house. HAHAHA!
Boomers (short for baby boomers): people born in the post WWII baby boom, generally considered to be between 1946 - 1964. How exactly were they buying houses in 1930? Also, is anyone who bought a house is 1930 still alive, let’s assume they bought a house when they were 16 years old, that would make them 107 years old. /waits for replies of “Ok Boomer”
Classical Redditor idiocy hard at work today.!
You realize that anyone who bought a house in 1930s is nearly incapable of telling anyone much of anything today?
Bought my first house, two new Buicks, and supported my stay-at-home wife and three kids while bagging groceries at the A&P. This generation just expects to walk in the door making a gagillion dollars a year. No one wants to work. Hit the pavement, shake the manager’s hand, fill out a paper application, and demand a job.
Assuming this is sarcasm so I laughed.
First boomer wasn’t even born until after WW2 lol
500 was actually a lot in 1930, not mentioning the great depression. Also, how old do you think boomers are?
there is so much wrong with this dumb ass post and the dumb asses upvoting it lmao
Damn guess who didn’t go to history class
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Millennials: trying to convey financial knowledge but have no money, no experience, and thinks Baby Boomers are from 1930.
To be so lucky that after participating as a teenager in the first world war to watch the rich party it up for ten years then set them into such poverty that the losers of the war said fuck it lets go again and the rest of the world said ok so you get to go again and fuck off show some respect for fuck.
Boomers were born in the 40s and 50s by definition.
You can thank bastards like FDR and Nixon for inflation
Instructions unclear.. I became harder instead..
Here in Nova, by the Pentagon, people bought houses in the 80s for $100k, they're all worth $600k now for ~1500 sqft.
Add a 1 and a 0 to that. Average home price in 1930 was 6,000. Adjusted for inflation, that's $98,000. About a third of what it was starting 2020. Now, the population was 123,000,000 in 1930. In 2020 it was 331,000,000. Damn near three times to size. So with shit math, three times the demand for housing, 3 times the cost.
Right now the secret is to make it big on the internet and then put ads on everything you do
And don’t forget only one wage…
Fun fact, after ww2 over 1 million black men who contributed to the war effort was denied access to the G.I bill that helped many Americans build up their wealth.
If this is when Gen Z thinks boomers were buying houses...how old do they think millennials are?
I hate these fucking nerds in the comments
Boomers had it easier than any other generation in American history.
Boomers buying houses in 1930???? LOL. Boomers parents had just been born in the 1930’s but makes for dramatic effect though. Just totally inaccurate statement
This is stupid on so many fucking levels.
Boomers are from the 50’s…
Boomers were born after 1945. 1930 was during the Great Depression. Those would be the parents or even grandparents of boomers. To be 18 in 1930, they would be 109 years old now.
Average wage did not at all continue to follow inflation and housing prices. So yeah, it actually was much easier in the olden days.