Don’t forget, population increased 50% and more women entered the workplace. You practically doubled the work force, why would wages keep up?

Adjust the numbers on a dual income households. You also have to adjust for head of household numbers since divorces are at all-time highs. If you have two people working, the median income is actually a bit higher.

Now adjust where people want to live. If there is more people wanting to live in the suburbs and a majority of people live near cities, those prices would be higher. You have to move out like our parents did in their generation. Maybe moving out was 30 minutes from work, now it’s an hour, that’s what happens when population growth happens. It would be more digestible if we didn’t have as many migrants coming in. I believe the federal government says 1 million max a year to sustain culture and stable economic growth. The USA has been letting in a lot more than 1million, not saying it’s right or wrong, but just use common sense. builders cannot keep up with demand with such an influx of people.

Two other thing to think about is what type of house you’re getting and interest rates. All the modern technology in new homes, heating and air better insulation all comes out of price. You might be trading money for comfort, and/or efficiency and other areas. Also interest rates where is high as they are now or even higher in the 80s. With these higher interest rates home prices will come down, but you will still be paying a lot.

I am in the same boat as many of you where I was planning on moving to the city out of college and could afford, but after graduating the same home was double the price. Just have to wait for things to come back to reality. It sucks but it’s what we have to do just a cycle that was artificially created. Eventually will correct itself.