Letter: Housing prices have so outpaced inflation their average price is about the same as buying a small business
With the current price of housing, the American Dream is dead. When I was a child in the ‘90s, my parents bought their first home for around $35,000. That translates into around $84,000 today. Although that is a chunk of change, what can that really buy in today’s market? A nice vehicle, maybe? A bachelor’s degree? It’s certainly not enough to buy a house. In Utah, you need about half a million to do that.
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