Modern Fables of Back to the Future – What it Will Take! Rents and Housing Prices Have got to Fall or Wages Rise!

The Current Spin about Housing and Land Prices and Rents: We can get back to living the good old days of life in the 50’s and 60’s by just electing the correct political party

Ha! Let’s Look at this Fable – Only one area today! Land/Rents and Housing Prices

First – Cost of Agricultural Land: Check out 1900 to just the year 2000!

National Agricultural Statistics Service – Publications – USDA from: https://www.nass.usda.gov/…/Land_Values/index.php

In 2000, the average value of agricultural land and buildings was $1,050 per acre! That’s 52 times greater than the average of $20 per acre in 1900. Don’t even contemplate what’s happened to real estate prices on houses from 2000 to 2022!

You’ll see in a moment! Below!

Land and Residential House Cost: Determined by Location – Location – Location!

Approximate 2022 Cost of Land and Home Values in Each of the 48 Continental United States – taken from: https://upgradedhome.com/how-much-is-an-acre-of-land-worth/

The chart below outlines the cost of an acre in each of the 48 continental United States as well as the average home value, total value of land, and GDP per capita. The discrepancies may be astonishing from state to state. (Want your own State’s multiplier? Just divide the Price per acre of your state by 20 as I did below)

StateValue per AcreTotal ValueGDP per capitaMed. Home Value
Wyoming$1,558 (78x the 1900’s)$97 billion$61,091$214,300
New Mexico$1,931$150 billion$41,619$171,300
Nevada$2,116$149 billion$44,812$258,200
South Dakota$2,135$103 billion$48,004$167,000
Montana$2,283 (114x the 1900’s)$213 billion$39,833$231,300
North Dakota$2,517$110 billion$64,911$194,700
Nebraska$2,936$144 billion$54,654$155,800
Idaho$3,435$182 billion$36,441$207,100
Kansas$4,220 (210x the 1900’s)$220 billion$47,435$150,600
Arizona$4,328$315 billion$39,583$223,400
Utah$4,664$247 billion$45,493$275,100
Mississippi$5,565$166 billion$32,447$120,200
Maine$6,142 (307x the 1900’s)$122 billion$39,521$191,200
Colorado$6,462$429 billion$54,026$348,900
Oregon$6,503$400 billion$51,312$319,200
Iowa$6,590$235 billion$52,284$149,000
Arkansas$6,739 (337x the 1900’s)$224 billion$36,714$128,500
Kentucky$7,209$183 billion$39,277$141,500
Missouri$7,233$318 billion$43,036$156,700
Oklahoma$7,364$323 billion$44,535$137,400
Vermont$7,439$44 billion$44,831$226,300
Texas$7,542 (377 x the 1900’s)$1.3 trillion$53,737$172,200
Minnesota$8,191$416 billion$54,805$224,000
Wisconsin$9,924$344 billion$48,666$178,900
West Virginia$10,537$162 billion$37,353$119,800
Alabama$12,356 (618x the 1900’s)$400 billion$37,508$141,300
Louisiana$12,908$354 billion$44,372$162,500
Georgia$14,242$528 billion$45,925$173,700
Tennessee$14,411$380 billion$44,348$167,500
North Carolina$16,230$506 billion$44,706$171,200
Washington$16,752 (837x the 1900’s )$716 billion$59,333$339,000
Indiana$16,903$387 billion$46,427$141,100
South Carolina$17,610$339 billion$37,637$161,800
New Hampshire$19,840$114 billion$52,509$263,600
Virginia$21,921$555 billion$52,124$273,400
Illinois$23,492 (1175x the 1900’s)$833 billion$55,102$195,300
Michigan$23,765$865 billion$44,201$155,700
Florida$28,961$1 trillion$39,842$214,000
Pennsylvania$31,923$914 billion$51,841$181,200
Ohio$32,077$838 billion$48,188$144,200
California$39,092 (1955x the 1900’s)$3.9 trillion$60,359$509,400
New York$41,314$1.2 trillion$65,220$314,500
Delaware$57,692$72 billion$63,955$252,800
Maryland$75,429$470 billion$56,375$312,500
Massachusetts$102,214 (5111x the 1900’s)$517 billion$66,500$385,400
Connecticut$128,824$400 billion$62,633$273,100
Rhode Island$133,730$90 billion$48,314$257,800
New Jersey$196,410$930 billion$56,776$334,900

Get the Picture?

Yikes! Great Grandpa! What’s Happened to the Great American Dream? Can you afford to buy a house? Wages will have to rise commensurately or housing prices will have to fall drastically in order for this American dream to continue.

Do you see any Congress

every doing anything about this?

It’s one big Fable!

Ask your Congressional Reps. How they are gong to fix this American Problem?

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