05/17/2023
Just found this New Home Buyers guide dated November 2007. These were some prices listed from San Bernardino, Orange, and Riverside counties. Minimum wage in California 2007 was $7.50/HR. Todays minimum wage has more than doubled, it stands at $15.50/HR. Home prices since 2007 have not, not in any of these counties. With that said, home prices seem reasonably fair compared to minimum wage and inflation from 2007 levels.
So why is the topic of home affordability such a hot 🥵 topic?
Maybe, just maybe, income should be a more important topic. Has our income more than doubled since 2007? If you were a minimum employee and still are, yours has, but if not why hasn’t our income more than doubled? That would be a fair question to ask. Here is a conversation I often hear that bugs me… Anyone having a discussion about how a $100,000 income job is a “good paying job”… I heard that conversation when I was in high school, that was in the late 1990’s. Why should that still be a “good paying” income? It shouldn’t, I don’t believe any young person should beilive anyone’s opinion of “good income”. That “good income” is a limit to one’s earning potential and the young adults need to decide their own “good income” standard. Every individual should for that matter, in my opinion of course.
#2007
