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The average entry-level home in the US has soared to a record $243K and experts say first-time buyers are being smoked by a 'one-two punch' (finance.yahoo.com)

submitted 1 year ago by [email protected] to c/[email protected]

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This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.

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[–] [email protected] 2 points 1 year ago

I hate headlines like this. I bought my first home (a townhome condo) for 500k, which was cheap because of a major street. 243k is laughable in California where both pay and price are significantly higher than podunk parts of the country. Plus the house pictured would easily be 1.5 million to 3 million here. Basically, fuck this article.

Speaking of average (or preferably median, I hope they meant median) wages in the US, same problem, although worse. 64k in Cali isn't too unusual, but most out of state folks I know earn closer to 30k. And if they are indeed looking at averages, its heavily skewed towards the super wealthy. Again, fuck this article.