Monthly Payments for Lower
then Rent
I was doing some research on what all of the Government Programs of the 1930′s did to the median home prices when I stumbled across this ”Better Housing News Flash” made in 1935. Quite interesting and certainly entertaining once it gets to the model home scene:
The Subtle Message
The one phrase that made sense for a reason to buy back in the Middle of the Great Depression was “For Monthly Payments Lower Then Rent”.
Today… there are so many programs in place and Billions of Dollars of borrowed/printed money being spent attempting to keep home prices from falling across the country. Too late to save Las Vegas home values but don’t you think one of the major causes of todays problems were created from out of control prices and mortgage payments far higher then renting? (We obviously can’t take Billions of Dollars putting people to work building homes like they did in the 1930′s since there is no REAL shortage of inventory.)
Not sure how accurate this information is:
In 1930 average new house cost $7,145.00 and by 1939 was $3,800.00
In 1930 the average income per year was $1,970.00 and by 1939 was $1,730.00
All of this should Certainly make you think for the day.
Paul Francis, CRS
Prudential Americana Group – Realtors®
Las Vegas Real Estate
702.592.3058
