Friday, July 1, 2016

Since 1971: How Much a Home Would Have Cost You

http://www.msn.com/en-us/money/realestate/since-1971-how-much-a-home-would-have-cost-you/ss-AAhtN6o?li=BBnb7Kz

I will just take a few samples, it is interesting to see the fluctuations!

Using data from the U.S. Census Bureau, they were also able to determine the inflation-adjusted median sale price for a home each year and calculate what a monthly payment would have been in inflation-adjusted terms.
1971
30-Year Fixed Mortgage Rate: 7.50%
Inflation-Adjusted Median Sale Price for a Home: $135,696
Inflation-Adjusted Monthly Payment: $948.81

1985
30-Year Fixed Mortgage Rate: 12.43%
Inflation-Adjusted Median Sale Price for a Home: $170,883
Inflation-Adjusted Monthly Payment: $1,814.48

1996
30-Year Fixed Mortgage Rate: 7.81%
Inflation-Adjusted Median Sale Price for a Home: $194,631
Inflation-Adjusted Monthly Payment: $1,402.44

2007
30-Year Fixed Mortgage Rate: 6.34%
Inflation-Adjusted Median Sale Price for a Home: $260,699
Inflation-Adjusted Monthly Payment: $1,620.46

2009
30-Year Fixed Mortgage Rate: 5.04%
Inflation-Adjusted Median Sale Price for a Home: $220,254
Inflation-Adjusted Monthly Payment: $1,187.76

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