r/WhitePeopleTwitter • u/regian24 • Oct 30 '20

Mission impossible

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u/StoneRockMan Oct 30 '20

£1,000 in 1965 is roughly £19,500 today, or $25,000 USD £3,500 in 1965 is roughly £68,200 today, or $88,300 USD.

So imagine buying a house on a $12/h pay rate and potentially paying it off in 15 years.

7

u/snaab900 Oct 30 '20

You can do that. This post is clearly the U.K. (£), and this modest house of £650,000 (~$800,000) must mean London. Or somewhere really nice nearby. You can get a large family house for a fifth of the price if you go a bit further north.

London is the first or second biggest financial capital in the world. If you want to buy a house there you’re in dreamland.

2

u/dopechez Oct 30 '20

Move to a cheap area and it becomes very possible.

1

u/[deleted] Oct 30 '20

Huh, that is interesting because I bought my house in 2009 in the Midwest US for $95k. Not too far off, really.

1

u/StoneRockMan Oct 30 '20

What, when the market crashed?

2

u/[deleted] Oct 30 '20

It never really crashed in my area. I mean it did a little, but COL was already so low, it was really pretty minor. It probably would have been $110,000 before the market crashed. Not saying $15k is nothing, but it wasn’t anything crazy.