> Remember in 1963 only the man was working, and typically supported 4 kids, a wife and often parents in the home.
Things are a lot cheaper if you keep them in a 1200 square foot house
> Today you have 2 people working 100 hours a week to support 1-2 additional people , while living in an apartment and living in a run down and crime infested neighborhood.
Highly doubt people at this income rank were buying houses in 1960 and living comfortably.
> Summers is right more than he’s wrong
Entire argument is whether you should count interest or not. I can see arguments both ways
Things are a lot cheaper if you keep them in a 1200 square foot house
> Today you have 2 people working 100 hours a week to support 1-2 additional people , while living in an apartment and living in a run down and crime infested neighborhood.
Highly doubt people at this income rank were buying houses in 1960 and living comfortably.
> Summers is right more than he’s wrong
Entire argument is whether you should count interest or not. I can see arguments both ways