Spyke

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Seattle housing be like...

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Yeah but in the early 1980s, high interest rates were manageable because the median home price ($70,000) was only about two to three times the median household income ($22,000). Today the median home price is past $400,000 while median incomes are around $80,000, about five to seven times annual income. The high interest rate was painful, but it applied to a much smaller loan balance.

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Why are they even doing this, the grass wasn't even that tall

My HOA gives us increasing fines if a piece of grass so much as TOUCHES the sidewalk. So it's not my fault :( I would rather let it grow and have a ton of biodiversity but nooooo. Also I'm not joining the HOA or running for the board or any of that crap. I would love if someone came and planted some plants that were on the extinction list and the HOA couldn't do anything about. That would make me so happy to stick it to them.

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Ok, boomer

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Just using the interest rate is an unfair comparison. You have to go get median house prices and median incomes as well to make a proper comparison. Just saying the rate was higher at some point is useless if we don't also compare the prices and incomes because what really matters is affordability. Not saying your whole comment is wrong, just trying to say that this particular part seems to be biased in favor of the Boomers.

Median home price to median household income ratio This ratio is a key indicator of housing affordability. It measures how many years of the median household's income are needed to purchase the median-priced home. Period Median Household Income Median Home Price Price-to-Income Ratio 1980 ~$21,000 ~$65,000 ~3.1x 2024 ~$85,000 ~$415,000 ~4.9x Comparison of mortgage payments Even with the high interest rates of the 1980s, the lower home values meant a smaller overall loan and a monthly payment that took up a smaller percentage of the median household income. Here is a side-by-side comparison of a hypothetical mortgage for a median-income household in 1980 and 2024: Mortgage metric Early 1980s 2024 Median income $22,000 $85,000 Median house price $47,000 $415,000 20% down payment $11,000 (~50% of annual income) $83,000 (~98% of annual income) Loan amount $36,000 $332,000 Interest rate 13% 7.5% Monthly payment $397 $2,321 Payment as % of gross income

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What is with the pro-AI posts lately?

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Is Stanford not neutral or independent? AFAIK the data is from Ipsos and they just made visualizations, though you can correct me if I'm wrong. I was just trying to say that the OP said the world whereas the person I replied to showed data from Americans specifically.

Edit: Ohhh I see it's from Stanford Institute for Human-Centered Artificial Intelligence (HAI) not just Stanford the University, my bad.

I could definitely see how this would be a biased source then:

"Stanford Institute for Human-Centered Artificial Intelligence (HAI) is an academic entity led by an interdisciplinary steering committee of university researchers and industry experts."

Luckily they only made visualizations from Ipsos's data though I think?