The chart below shows the increasing amounts of money you’re able to borrow on a 30-year fixed rate mortgage with a $1,000 payment since 1971. I’ve been meaning to create this chart since I saw Matt Yglesias’ post last month on the buying power of $1,000 over the last few years. As you can see, the trend isn’t new. The amount that $1,000 buys you (in 2012 dollars) with a 30-year fixed rate mortgage has grown from roughly $64,000 in 1981 to $226,000 last month!
Read the rest of this report via A Thousand Bucks Buys You a Lot of House Right Now | Department of Numbers