I see charts from the 1960’s – 2000 showing wages keeping up with the cost of housing. Then there’s a huge boom in housing cost. What factors caused the price to jump so high? Is it only the low interest rates, or did something else happen?
For example: [https://imgur.com/a/8HWIlqx](https://imgur.com/a/8HWIlqx)
Edit:
This guys just uploaded a video today answering the question I posted. He says a lot of the same things that you guys said too[https://www.youtube.com/watch?v=eL9DBjfhWAE](https://www.youtube.com/watch?v=eL9DBjfhWAE)
In: 50
Low interest rates and the easing of borrowing requirements are probably the two biggest. Getting a mortgage used to be tough and interest rates were really high. My parents bought their first house in the early ‘80s and it was like 13% interest and had to have 20% down. Fast forward to early 2000s and rates were 5% and you could buy with no money down NINJA loan (no job, no income, approved). This led to huge increase in the number of people that could buy homes they couldn’t afford and prices shot up.
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