This is more complex than "houses cost less then".
Given a fiat currency and fractional reserve banking, the dollar floats in value like a leaf on the wind.
Houses cost less, people made proportionally less (inflation is a consideration here), and interest rates still bite you in the butt over the long haul, regardless of your monetary baseline.
Comments
This is more complex than "houses cost less then".
Given a fiat currency and fractional reserve banking, the dollar floats in value like a leaf on the wind.
Houses cost less, people made proportionally less (inflation is a consideration here), and interest rates still bite you in the butt over the long haul, regardless of your monetary baseline.