We’ve all asked ourselves this question at one point or another. Here’s some facts you need to know before you make up your mind.
Compared to 1977, it takes twice as long to save for a house.
1977 vs 2015 - Years Of Work Required To Make A Downpayment
2015 - Years Of Work Required To Make A Downpayment
We also have to work an extra month per year to make our payments
1977 - Income Towards Mortgage
33% (4 Months)
2015 - Income Towards Mortgage
42% (5 Months)
Meanwhile, air travel has gotten 50% more affordable.
1980 - Air Travel, Cost Per Mile
2014 - Air Travel, Cost Per Mile