Stating the raw value of the house will only make naysayers throw inflation into your face.
The better way of saying that would be,
buy a detached SFH for only 4× annual minimum wage
Like, really drive it home how absolutely unaffordable homes are these days. In my corner of Canada, the median detached SFH is going for 28× minimum wage, and it’s 32× if it’s new construction. My own 1972 split level sold brand-new for only 4× the 1972 minimum wage.
You can throw the inflation right back at them. Boomers were born into the Bretton Woods system, started borrowing from us in the 1970s, and then kept voting for lower taxes on the wealthy.
Old people used to complain about inflation frequently because they experienced a stable dollar for decades… until the Nixon Shock.
Stating the raw value of the house will only make naysayers throw inflation into your face.
The better way of saying that would be,
Like, really drive it home how absolutely unaffordable homes are these days. In my corner of Canada, the median detached SFH is going for 28× minimum wage, and it’s 32× if it’s new construction. My own 1972 split level sold brand-new for only 4× the 1972 minimum wage.
You can throw the inflation right back at them. Boomers were born into the Bretton Woods system, started borrowing from us in the 1970s, and then kept voting for lower taxes on the wealthy.
Old people used to complain about inflation frequently because they experienced a stable dollar for decades… until the Nixon Shock.