It is to me. My first house in San Bruno California cost $62,000.00 in 1976. That was scary huge amounts of money .I think the number is far higher than that in my area. And many middle to upper middle class area. Then again, the average mortgage + taxes/ins in my area (which is similar to many major metropolitan areas) is probably in the $5-7K/mo range, so $1k/mo for a car payment isn't exactly a big deal when your monthly takehome income is $10-15K/mo.
The cost of items from 46 years ago isn't exactly relevant.
Maybe you are just not used to the living costs and higher incomes in major metropolitan areas?The mere fact that we have people who are "used to" $1,100.00 a month car payments, scares me.
I'm a huge fan of those. My dream car is not some supercar but a pristine Yellow 850 T5-R with a few tasteful IPD modifications.
Yeah but he "seen it on the news"12% of what? And where? Worldwide? US?
Is that 12% of the public? Doubt it. More like 12% of car loans and likely new car loans.
I call clickbait. Details, people.
Calculates to $330k today, if the inflation calculator is correct.
Still big amounts of money.
Reasons why I live where I do… don’t think I’d make it over there.
Exactly. $52k barely buys a minivan or mid/full-size crossover now.I'm surprised it's that low. At 5.7% interest rate (quoted from a CNBC column stating that's the average APR on new) over five years and nothing down, that's a $52,000 vehicle. Not overly impressive. Lots of people running around in vehicles in those vehicles these days.
I sold my last rental in Millbrae in 2015 as is for a million and a half , some guy paid cash.