This seems kind of a one-off article. While some people might be able to afford a $300,000 mortgage, it is still Scrooge McDuck mansion money to a lot of people. What I’d like to see is “What kind of housing is affordable to someone making minimum wage around the world”. (Affordable meaning no more than 30% of income to housing.) That, I think, would be much more revealing. Especially if it could be contrasted to housing affordable to middle-class workers.
One commenter on imgur posted a link to a Detroit house that I thought actually looked pretty nice. But even so, even in what is supposedly one of the most depressed housing markets in America, I couldn’t help thinking that house shouldn’t cost more than $50,000-$100,000 (considering prices of other things relative to homes). Maybe I’m just old, but maybe the real-estate bubble is still bubbling, even a decade after a crash that shook the world.
