50-Year Mortgages Won’t Hold Back the Coming Mamdani Wave
Hey there friends! Below are some resources I referenced in preparation for this week’s video commentary. Enjoy!
Sears' prefabricated 'kit homes' 1908-1940 : America's former largest retailer - TinyMod Living
How big of a house do you really need? How home sizes have evolved over time - Bankrate
History of The 30 Year Mortgage – From Historic Rates To Present Time - BeBusinessed
S&P CoreLogic Case-Shiller U.S. National Home Price Index - FRED
30-Year Fixed Rate Mortgage Average in the United States - FRED
Get the government out of the mortgage and student loan markets and just watch the cost of housing and college become more affordable (as they were before Big Brother's "I'm from the government and I'm here to help.").
I am 67 years old. I grew up as part of a seven person family in a 1700 square-foot house. My wife and I raised our two children in a 2500 square-foot house. We have about 2.5 times more square foot per person than my parents had.
I have a 2.5 car garage. My parents had a 1 car garage. I have central air-conditioning. My parents had a window unit in their living room. My kitchen is over two times bigger than my parent’s kitchen.
All the new housing I see being built looks much more like my house, than my parent’s house.
It seems to me that it’s harder to build new housing due to zoning and other restrictions, the housing that we are building is much bigger, and current housing construction, contains more amenities. Other than townhouses, no one is building starter homes anymore. All of this contributes to rising housing costs.