George Langford's Blog

Thursday, October 29, 2009

How Much More Does a Home Cost Compared to 25 years ago?


So over the past 25 years we have seen the Real Estate Market go up and down like a yo-yo. But how much more does a home cost today compared to 25 years ago?

1984 Home Price of $100,000
Interest Rate at 17%
Total Monthly Payment was: $1,425.68


2009 Home Price of $500,000
Interest Rate of 5%
Total Monthly Payment: $2,684.11

A difference of $1,258.84!]

Does it seem like owning a home costs that much more today? You be the judge!

Write your thoughts....and let me know what you think.

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