That’s an exaggeration. The median price for new construction in 1980 was $64,600. [1] As for existing housing stock, the median home value in 1980 was $47,200. [2] As housing prices are heavily right skewed, the prices of cheap housing is far closer to the median than the price of expensive housing. Based on a cursory overview of some charts, it seems like the bottom 20% of houses are no more that 30% cheaper than the median, putting them in the $30k range.
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That’s an exaggeration. The median price for new construction in 1980 was $64,600. [1] As for existing housing stock, the median home value in 1980 was $47,200. [2] As housing prices are heavily right skewed, the prices of cheap housing is far closer to the median than the price of expensive housing. Based on a cursory overview of some charts, it seems like the bottom 20% of houses are no more that 30% cheaper than the median, putting them in the $30k range.
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1975 =/= 1980. Looks like housing went up 64% in those 5 years from the data I already linked.
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Data instead of anecdotes?
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Curious, as the person who you were originally responding to deleted their comment. Is that per year or a one time expenditure?
Also, 36k is still literally 44-80% higher than your initial claim.
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