Ha ha. Housing prices were too high, according to Time Magazine, circa 1969:
One of the articles (not the cover story) WHY HOUSING COSTS ARE GOING THROUGH THE ROOF told the story of the nation’s housing. In three years, the average sales price of a house had risen by $5,800 or 28.9%.
Finding a place to live today is a trauma for millions of Americans. During the past two years, the price of houses has risen almost twice as fast as the over all cost of living. The average new house in the U.S. now sells for about $26,000; the same one would have cost $20,200 in 1966. In many suburbs, prices have jumped a good deal faster than that.
Source: Housing Story Redux – By Jonathan J Miller, Matrix
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