The numbers have changed, I’m not sure the value has. For example:
Years ago (late 1970’s) an old guy at work announced he had just made his last house payment. I asked him what his payment was? He said he had been paying $125 a month. I replied “Holy crap, they were giving houses away back then!” Now flash forward to a few years ago. At this point I’m the old guy, and I’m telling a co-worked that I just paid my house off. He asked what my payment was. I told him it was $750 a month. He said “Holy crap, they were giving houses away back then!” It makes you think. My Grandparent’s first house cost them $3200. At the time Grandpa was working as a plumber and making $7 a week.
Stuff has always been expensive, especially good stuff. The average person doesn’t get paid enough, and never has. Some how we manage to get through it anyway
S.R.
My grandparents built a home on the poor side of Edina around 36th and Zenith. They sold for $62,000 in the eighties (their mortgage original mortgage was a couple grand).
My dad just drove by in the last few weeks and someone finally tore the place down. He spoke to the contractors and they complimented how well built the place was. It sold for $400k and the McMansion going up on that tiny lot can be yours in a month or so for a cool million.
It is a really interesting neighborhood, close to the lakes and Mpls and highly desirable now. 1940s 1200 sq ft houses being slowly taking over by million dollar modern homes lot by lot.