I don’t think you can can you apply the insertion figures to calculate house prices because real estate has increased so much faster than everything else in the last two decades. To put it into perspective, I recall as a kid in the 90s, a friend living in a two story house with a pool next to the beach, and that house cost 400k - which seemed like a lot because we lived in a 3bed house on a suburban half acre block which cost under 200k.
Yeah, I lived in a 2 bedroom apartment 1 mile from the beach in the late 90’s that was $850. Now the same apartment is going for $3500. Housing prices have reached insane highs. Housing is so expensive now that it’s driving people out of the cities, and people are commuting hours every day to work.
I don’t think you can can you apply the insertion figures to calculate house prices because real estate has increased so much faster than everything else in the last two decades. To put it into perspective, I recall as a kid in the 90s, a friend living in a two story house with a pool next to the beach, and that house cost 400k - which seemed like a lot because we lived in a 3bed house on a suburban half acre block which cost under 200k.
In '89 it sold for 900k.
Yeah, I lived in a 2 bedroom apartment 1 mile from the beach in the late 90’s that was $850. Now the same apartment is going for $3500. Housing prices have reached insane highs. Housing is so expensive now that it’s driving people out of the cities, and people are commuting hours every day to work.