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AI will make people work more, but they’ll be happy about it, Sam Altman says (cybernews.com)
submitted 3 months ago by to c/technology@lemmy.world
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[–] 2 points 3 months ago (6 children)

My dad did afford a home for a family with a single income and it was in the 2000s

Let's not pretend it's some impossible feat

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  • [–] 2 points 3 months ago (3 children)

    I didn't say it was impossible, I meant it was far harder than it was. It was the normal expected result at one point, and as time goes forward it's less and less common.

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  • [–] 1 point 3 months ago* (2 children)

    It was already more difficult in the 1980s because women entered the workforce. The peak male single earner household was the early 1970s before the peak of Japanese manufacturing

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  • [–] 1 point 3 months ago (1 child)

    I'll agree, but what I'll say is it's a chain.. were we to put it

    https://www.longtermtrends.com/home-price-median-annual-income-ratio/

    so bottom line is it's right, it was actually a minor peak in 1970, dropping to 1975, going up to 1980... balooned like crazy in the 2005 housing bubble, and is currently sitting way above that.

    but yeah I'd say key overall trend is, starting around 1970... it's on the whole progressively gotten worse over time.

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  • [–] 1 point 3 months ago

    This doesn't take into account interest rate. Homes were cheaper in the 1980s because nobody could afford a mortgage at 10% or more

    Housing was actually easier to finance after the housing crash because of 0% interest rates and lots of foreclosed real estate. That is, if you didn't lose your job due to the financial crisis

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