Ok Boomer: 1980 vs 2023 - How Much Home Can Millennials Afford

Realtor Freddie Smith compares inflation and the financial realities of 1980 versus 2023. For more personal finance videos, subscribe to Life After Debt with @TheMarcusGarrett

#inflation #realestate #investing

[angeldimuerto]

So it’s normal to feel like I am drowning?

[studfinderball]

We Boomers had it easy unless we were in 'Nam.
Bought a 3bdrm, 1 bath in '86 (age 33) for $45, 500. Income was $16k. After 5 years did a ReFi, lowered APR, and a 15 year mortgage instead of 30. In 2005 house had 1 year left on mortgage, and was sold in the divorce for $142, 500.
We Boomers are the last generation with the American Dream, which died with the 2008 Great Recession.

[tOoEsZ]

Not adjusting for inflation. Increase prices by 370% in 1980 to match todays prices.