Unattainable American Dream: House Prices Soar Wages Do Not
by Lauren L. on May 30, 2014 | Views: 207 | Score: 2
Median Price for House | Real Median Income | |
---|---|---|
1984 | 80017 | 47181 |
1985 | 84275 | 48063 |
1986 | 92233 | 49764 |
1987 | 104675 | 50389 |
1988 | 113350 | 50776 |
1989 | 120383 | 51681 |
1990 | 122275 | 50994 |
1991 | 120017 | 49529 |
1992 | 121300 | 49122 |
1993 | 126142 | 48884 |
1994 | 130408 | 49429 |
1995 | 133433 | 50978 |
1996 | 139767 | 51720 |
1997 | 145050 | 52784 |
1998 | 151975 | 54702 |
1999 | 159842 | 56080 |
2000 | 166542 | 55987 |
2001 | 172608 | 54766 |
2002 | 185025 | 54127 |
2003 | 191383 | 54079 |
2004 | 217817 | 53891 |
2005 | 234208 | 54486 |
2006 | 243067 | 54892 |
2007 | 243742 | 55627 |
2008 | 230408 | 53644 |
2009 | 214500 | 53285 |
2010 | 221242 | 51893 |
2011 | 224317 | 51100 |
2012 | 242108 | 51017 |
Year
U.S. Dollars
Sources:
search.stlouisfed.org, search.stlouisfed.org
American homeownership has been considered a prerequisite of living the American Dream. Yet over the past thirty years a concerning trend has become apparent; while the median price for homes is drastically rising, the median household income has been dismally stagnant. If the trend continues, homeownership for future generations may be a luxury rather than a standard.