r/SipsTea • u/late_to_redd1t • 21h ago

SMH The advice didn't age well.

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u/No_Elk9676 16h ago edited 16h ago

Yeah, and theyd be able to afford half of what they had with those same jobs today.

Fuck, if they bought the house they had then today, they probably could barely cover the mortgage with those jobs

Housing prices have almost doubled in the last 8 years, want to guess what hasn't even come close to doubling in that same time? Thats right, wages

In 2010 the average wage of my position was $25 an hour. The house my wife and I bought sold in 2019 for 117k. Estimated value in 2010 was around 100k.

We bought it last year for 250k, my jobs average wages have gone from $25 to $35.

Our buying power is dwindling and we have idiots telling us it was always like this

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u/Strict_Cut_1206 16h ago

Funny. The house that we lived in just resold, after exenstive remodeling, for right at $200,000. It's three bedroom/two bath upstairs, with a full apartment in the basement. Has a huge front and back yard. So, yeah, with the jobs they had back then, at today's salaries, they could have afforded it.

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u/No_Elk9676 16h ago

I call bullshit.

Housing prices have doubled in just the last 10 years alone, and tripled since 2000, and are 6-8 times more expensive than the 80s.

They wouldve bought that house for ~28-30k in the 80s.

Which regardless of if they could afford it today, the fact is if they were struggling then, they absolutely would not be able to afford today

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u/Strict_Cut_1206 16h ago

I am not sure what they paid for it in the late 1960s, but they sold it for around $19,000 in the late 1970s. The price is what it sold for last year. Nice house, starter or otherwise, for the money. The basement apartment was nice to have.

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u/No_Elk9676 15h ago

That home was valued at 50k in 2020 and 32k in 2005

Now let's do a comparison

The average policeman wage in the 70s was 12k, house sold for 19k during that time.

Meaning the entire cost of the house was 1.5 years of a policemans wages.

The average policeman wage today is 76k, meaning it would be almost 3 full years of wages.

Do you really not see the problem here.

And this house seems to have been historically underpriced like CRAZY. An over 2k sq ft house going for barely 200k in 2026 is WILDLY out of the norm

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u/14InTheDorsalPeen 13h ago

It’s almost like the normalization of the two income household and the resulting glut of labor and explosion of average household income caused wages to stagnate and costs to increase sharply to eat up all that extra spending power.

Who’d a thunk it?