Quote:
Originally Posted by Garcia
We can split hairs about what constitutes middle class. How about this - over the past 30 years, the average value of lakefront property has increased much faster than average income over the same time period.
This made property more affordable for a larger segment of the population 30 years ago.
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I think Covid really supercharged the housing market. Before Covid I think middle-class could still afford a first home, maybe not a second home. 2 of my 3 children bought before Covid and traded up to bigger and better homes. Now they both have million-dollar homes with sub 3% mortgages. My oldest who never bought, continues to pay rent even though she could have afforded a home before Covid. She just was never confident enough to pull the trigger!