And they use the 3mil to buy a nice small house and outbid a working class family that currently live in a 2 room apartment

The oldest sale I could easily find was 1988, when it sold for $338,000 or about $956,400 today. In 1960 when it was built it likely sold for $15,000 and $22,000 so about $249,077 today. So from 1960 to 1988 it increased by 3.84x and from 1988 to now it increased by 3.16x. Wages increased by around 5.2x from 1960 to 1990 and about 2.4x from 1990 to 2025. In 1988 the house was 10.5x the average American families gross annual income. In 1960 it was 3.9x the income and today it's 36x the average American families gross annual income. I didn't really account for the area so the last part should really be done for California. Even today it's not fair to lump in the economics of somewhere like West Virginia or Mississippi with California. Either way it's probably more accurate to use the median instead of average.

You still can! You just gotta really lower your standards for what a "house" is

Right. I had to get up in the morning at ten o’clock at night, half an hour before I went to bed, eat a lump of cold poison, work twenty-nine hours a day down mill, and pay mill owner for permission to come to work, and when we got home, our Dad would kill us, and dance about on our graves singing “Hallelujah.”

But you try and tell the young people today that… and they won’t believe ya’.

Nope, nope..

Where did a boomer say that?

Some loud Boomers aren't all Boomers. There are so many I know who still need to work as they can to cover rent.

Who knows all of these boomers scolding anyone? I've never heard one say that. Do I only know or am I only related to nice boomers?

• It's corporations buying up all of the extra housing
• It's price fixing the rentals and housing through software they bought up.

Maybe it's fun to compare, so here's what prices are like in frozen/sweltering prairies for those curious. Edmonton Area (Satellite city) in Northern Alberta also keep in mind these are in Canadian Dollars. A bi-level now is around $470k. My bi-level is 1200sqft (Alberta doesn't count the basements) and was $325k in 2016 for an idea of the rate the prices are going up here.

1925 build, oldest part of the city is the cheapest I found here before getting into trailers, shipping container apartments, and tiny in-fills:

Duplex prices:

Bungalow:

Bi-Level:

Larger/Newer:

Not much different in Germany either. What once was needed to buy a decent house is now merely enough for a tiny apartment.

I just recently sold one of my houses for 900k. Which I bought for 300k 25yrs ago. And it even was due for major renovations. Well, could have. Actually sold to them for 500. Didn't wanna be an idiot but also didn't want to rip them off. I did nothing of value to justify that gain. And they were very happy. Still unfair...

The market is broken.

Hey! This is in California, which means it's in the communist demoncrats turf. You need to move to Goshen Hole , Iowa, that's where you can get a house for a more affordable price, and not be able to continue working in your career.

You ever see the prices for a condo in the bay area? Its just as much as a house in some instances

Who paid $3m... wouldn't that be a huge part of the problem too?

Kill capitalists... I mean..ism..

Most boomers don't really know how money works. They only had their lifestyle because of American manufacturing and taxing the world though usd printing. We gave those jobs to China, and now the money printing can't tax the world as much because every country has been dumping Treasury bonds.

Even if we get the jobs back, the debt and inability to world tax wouldn't bring back the same level spending power. We would have to pay the debt back which would cause a 20 yr recession.

At this point, it would be easier to learn Chinese and move to the next world power.