Young Generations Are Now Poorer Than Their Parents And It's Changing Our Economies
Economics Explained
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Home Prices in the US in the Seventies and Eighties
Inflation in 19 85 was three and a half %, while it was as high as 13% in 80. The prices of houses throughout these decades actually grew at a relatively modest rate. This is kind of the opposite of what we expect to day, where house price growth outpaces inflation. But thatwas not the case in the seventies and the eighties. So why am i focusing so much on housing? Well, despite being a very important part of our lives, houses are also uniquely unproductive. Reall estate is kind of unique as an asset class because it doesn'tpr uce anything of value. A house sitting on a block of land can appreciate in value and can
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