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So much for "progress"
(lemmy.world)
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this post was submitted on 30 Dec 2024
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Microblog Memes
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I bought a 3br 2ba 1.7k sqr house in the suburbs in 2017 for 135k and a hybrid car with 10k miles on it for 20k a few years ago. I'm really confused at these numbers. Are people just living outside their means and hoping collectors won't come knocking? I was making 55k at the time and I had no real financial troubles.
Huh. I wonder what happened between 2017 and today?
https://www.businessinsider.com/personal-finance/mortgages/housing-bubble
Also...
https://www.bankrate.com/mortgages/historical-mortgage-rates/
This has some serious boomer "I paid $25 a credit in college so I don't see why you are all taking out big loans" vibes to it.
So doesn't that mean it's a housing bubble issue? It seems like the focus on 1971 is designed to mislead people to think it's not a (very) recent phenomenon. This just seems like another "grr boomers" post which is just more division that serves to redirect anger from the ultra wealth.
Is housing the only thing mentioned in the meme? Is the fact that housing is even more obscenely expensive than it was in 2017 so that far fewer people can afford it than even could then some sort of proof that things are better now?