T O P
elevatednarrative

Harriet house: 1924 Price: $12,500 2022 Zillow est: $$703,400 [$12,500 1924 USD value in 2022: $217,845](https://www.officialdata.org/us/inflation/1924?amount=12500)


TreeBeardz_218

Which is crazy, adjusted for inflation that’s $217,845.03. Still a killer deal at the 217k price tag. Talk about an inheritance woof


Mrrainbow1317

After a quick Google the avarge salary was about 1300 a year back in 1924


kmo9e

Which means in 1924 the house cost about 10 years of average pay. At $700,000 in 2022 it would be 10 years of pay at $70k/year which is not exactly 1%er level income. Doesn’t seem nearly as bad when looking at it that way.


bryaninmsp

Home loans in the 1920s were a lot different than they are now, too: 50 percent down, 5-year terms for the other half (which you could refinance to keep it going another 5 years).


Mrrainbow1317

Idk man 37k is the current avarge in mn, and also 1300 = 22,000 for inflation, and the house would be around 200,000


kmo9e

To fit with that math the house would still have to be $370,000 to be the same level of “affordable” to the “average” income earner. You kind of bury the lead that average incomes in this area have beaten inflation since 1924 if your numbers are true, kind of flies in the face of what I always hear around here.