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nfinf  1mo ago (nfinf.substack.com)   1649 thread views

How good the boomers had it

nfinf.substack.com

Inspired by some of the conversations we had here about the experiences of previous generations (especially with /u/the_nybbler, and yes, I know you're not a boomer), I wrote up a post that challenges a common narrative of how good the boomers had, and how screwed the millennials are. Main point is that the houses were not that much cheaper relative to now, and the interests rates were murderous. Enjoy!

(I'm a regular poster here, but I wanted to separate the identities for opsec purposes).

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Very interesting. I wonder if a lot of the griping (in the US at least) is also influenced by the state the griper lives in. My understanding is that some states (e.g. California) have overly restrictive planning laws that push up house prices, while others (e.g. Texas) have more liberal laws that allow more housebuilding.

Low Texan house prices bring down the national average, while high Californian house prices still price out millennials who want to stay in their home state.

Google says the average house is Texas costs around $300,000 while the average house in California costs $765,000, which seems to bear this out.

The housing prices are due to many more factors including higher Texas property taxes (as a percentage) and more desirable climate in California. So there are factors going both ways.

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