Quote Originally Posted by xsnaggle View Post
That's a silly remark
Houses were cheaper but so were wages lower and then you could only borrow 2.5 x salary for a mortage, plus interest rates were a lot higher. Interest rates of 11% were not unusual.
As an example when I got married in 1972 I had the opportunity to buy a 4 bedroom house for just over £10,000.00 but although I was on a good wages I couldn't afford the repayments. That same house today is worth over £1/4 million.
So people then were using a much larger percentage of their disposable income to buy a house than you have ever experienced. But as you have never known any difference you expect it to last for ever. It doesn't sadly. We all wish it would.
It was far easier to buy a house in the 1970s than it is now, I don't know how this can be denied? I'm still waiting for someone to address the glaring white elephant in the room that boomers at the same age owned 7x more wealth than millenials at the same age. I don't know why people are ignoring this fact and just denying that financially selfish older generations have ****ed younger ones over big time.

source- https://www.marketwatch.com/story/th...ers-2019-12-04