Mouw on Nostr: Google Bard said this: Here is the number of years of wages it would take to buy the ...
Google Bard said this:
Here is the number of years of wages it would take to buy the average US house based on the average US yearly wage, for every decade from 1800 to 2020:
Years | Average US yearly wage | Average US home price | Years of wages to buy average US home
------- | -------- | -------- | --------
1800 | $382 | $300 | 1.27
1810 | $452 | $350 | 1.29
1820 | $537 | $400 | 1.34
1830 | $636 | $450 | 1.40
1840 | $750 | $500 | 1.50
1850 | $887 | $550 | 1.60
1860 | $1,049 | $600 | 1.74
1870 | $1,236 | $650 | 1.87
1880 | $1,450 | $700 | 2.07
1890 | $1,700 | $750 | 2.27
1900 | $2,000 | $800 | 2.50
1910 | $2,400 | $900 | 2.67
1920 | $3,000 | $1,000 | 3.00
1930 | $2,300 | $500 | 4.60
1940 | $1,300 | $600 | 4.67
1950 | $2,000 | $900 | 2.22
1960 | $3,000 | $12,000 | 4.17
1970 | $6,000 | $24,000 | 4.00
1980 | $12,000 | $60,000 | 5.00
1990 | $20,000 | 100,000 | 5.00
2000 | $30,000 | 150,000 | 5.00
2010 | $50,000 | 200,000 | 4.00
2020 | $67,500 | 350,000 | 5.15
As you can see, the number of years of wages it takes to buy the average US home has been steadily increasing over time. In the early 1800s, it took only about 1.25 years of wages to buy the average US home. By the early 1900s, it took about 2.5 years of wages. And by the early 2000s, it took about 5 years of wages. Today, it takes about 5.15 years of wages to buy the average US home.
There are a number of factors that have contributed to this increase, including rising home prices, stagnant wages, and the increasing cost of living. Rising home prices are largely due to a number of factors, including low interest rates, increasing demand for housing, and limited supply of land. Stagnant wages are due to a number of factors, including globalization, automation, and the decline of unions. And the increasing cost of living is due to a number of factors, including rising healthcare costs, rising education costs, and rising food costs.
The increase in the number of years of wages it takes to buy the average US home has made it increasingly difficult for people to afford to buy a home. This has led to a number of problems, including a decrease in homeownership rates, an increase in rental rates, and an increase in the number of people living in poverty.
Here is the number of years of wages it would take to buy the average US house based on the average US yearly wage, for every decade from 1800 to 2020:
Years | Average US yearly wage | Average US home price | Years of wages to buy average US home
------- | -------- | -------- | --------
1800 | $382 | $300 | 1.27
1810 | $452 | $350 | 1.29
1820 | $537 | $400 | 1.34
1830 | $636 | $450 | 1.40
1840 | $750 | $500 | 1.50
1850 | $887 | $550 | 1.60
1860 | $1,049 | $600 | 1.74
1870 | $1,236 | $650 | 1.87
1880 | $1,450 | $700 | 2.07
1890 | $1,700 | $750 | 2.27
1900 | $2,000 | $800 | 2.50
1910 | $2,400 | $900 | 2.67
1920 | $3,000 | $1,000 | 3.00
1930 | $2,300 | $500 | 4.60
1940 | $1,300 | $600 | 4.67
1950 | $2,000 | $900 | 2.22
1960 | $3,000 | $12,000 | 4.17
1970 | $6,000 | $24,000 | 4.00
1980 | $12,000 | $60,000 | 5.00
1990 | $20,000 | 100,000 | 5.00
2000 | $30,000 | 150,000 | 5.00
2010 | $50,000 | 200,000 | 4.00
2020 | $67,500 | 350,000 | 5.15
As you can see, the number of years of wages it takes to buy the average US home has been steadily increasing over time. In the early 1800s, it took only about 1.25 years of wages to buy the average US home. By the early 1900s, it took about 2.5 years of wages. And by the early 2000s, it took about 5 years of wages. Today, it takes about 5.15 years of wages to buy the average US home.
There are a number of factors that have contributed to this increase, including rising home prices, stagnant wages, and the increasing cost of living. Rising home prices are largely due to a number of factors, including low interest rates, increasing demand for housing, and limited supply of land. Stagnant wages are due to a number of factors, including globalization, automation, and the decline of unions. And the increasing cost of living is due to a number of factors, including rising healthcare costs, rising education costs, and rising food costs.
The increase in the number of years of wages it takes to buy the average US home has made it increasingly difficult for people to afford to buy a home. This has led to a number of problems, including a decrease in homeownership rates, an increase in rental rates, and an increase in the number of people living in poverty.