What Housing Bubble?
I read a great article in Wired Magazine about 6 months ago about the supposed housing bubble. I kept the article... and am just now writing a post on it. Here are some interesting stats it mentioned:*all of the dollar ammounts are adjusted for inflation
Average American Home from 50 years ago as compared to today:
| 50 Years Ago | | Today |
| 289.1 | Sq. Ft. per person | |
| $60.61 | Price per Sq. Ft. | |
| 229% | Percent of Annual Income Home Price Represents | 251% |
| 429.3 | Sq. feet annual income buys | 930.1 |
| 55% | Home ownership Rate | 69% |
| 16% | Percent of Homes Deemed crowded (more than 1 per room) | 6% |
| $3,419 | Annual Heating Cost | $2,644 |
| 13% | Percent of Annual Income Heating Cost Represents | 5% |
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| 55 year trend |
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| Housing Prices: +133% |
| Square Footage: +137% |
| Household Income: +113% |
| Heating Cost: -23% |
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| 50 years ago Average House: $59,575 2 BR, 1 BA, 983 Sq. Ft. |
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| Today Average House: $138,601 3 BR, 2 BA, 2,330 Sq. Ft. |
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posted by Justin Smith @ 8/30/2006 07:20:00 PM
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