Do you remember when it was normal for American families to own two houses?

There was a time in American history when it was normal for middle class families to own a house in the city and one out in the mountains or Florida or somewhere else.

So I'm wondering what happened to that?

This leads me to another line of thinking... What was it about that generation that made it possible for this to be true?

Was it that they made more money? Did they have more purchasing power? We're goods cheaper?

What changed happened please help me understand.

a reply to: onequestion

I know many people who own multiple properties, rentals, secondary, vacation rentals. Not too rare.

a reply to: onequestion

I duplicated in my diaper.

a reply to: onequestion

They worked hard and weren't leaned on to subsidize and support those who refused to do the same. (and I'm not even talking about taxes here. There are many, many hidden costs to the middle class to subsidize the lower classes. Issues such as HUD housing, high risk home loans, student loans, high risk auto loans, childcare costs, etc are all set up to ensure that the middle class and upper middle class pay to cover both the risk and the losses generated by a system which foolishly believes everybody deserves to own a home, a car, receive a college education, etc.

When you consider that today's system is one of hidden socialism and Kept Voters, it's pretty obvious why the middle class is forced to either accept the handouts in exchange for voting for their Meal Ticket in all elections or work a lot harder for a massively reduced reward.

I'm Canadian, but according to my calculations, 70% of my large middle class family owns either two homes, multiple properties, or land and an RV, camper trailer.

I really don't think it's that rare in the middle class.

a reply to: Atsbhct

I think maybe it's more rare then you think...I'm in a gigantic super expensive metropolitan area so maybe that has something to do with it....

a reply to: onequestion

City living can be very expensive, so there you have it. Look for upper middle class or upper class families, they'll be the duplicate property owners in an expensive city.

In more rural areas, I think middle class families still have their retreats, or rental properties, etc.

According to some internet places, middle class where I am is about $32k a year- about what I made when I first bought a house, and I was in way over my head at the time.
www.pewtrusts.org...

I make more than twice that a few years later, and one house is still way too expensive.

Where'd the wealth go?
To the rich. Specifically, to the banksters.

"banks and corporations will deprive the people of all property."

How many people do you know who actually own property? Factor in the fact that their government will strip them of it should they neglect to pay property tax, and I wager that number is just about zero.

It is not unusual even now to have a home in the city and a lake cabin or country retreat. You may be right though...there may not be as many now as in earlier more prosperous times.

When I was a kid people had more disposable income because there were a lot less things to spend it on.
There was no cable T.V. no computers no cell phones no video games no jet skis no internet no big screen T.V`s etc
there were a lot fewer things competing for your dollars back then, after buying a house and a new car what else was there really to spend your money on except a second house and a second car or RV.

a reply to: Tardacus

That is so true. Also, kids shared bedrooms and sometimes even a bed. Nowadays, every kid must have their own room, own computer, own TV, so houses have to be bigger and bigger!

a reply to: Tardacus

Good point.

a reply to: onequestion

There was a time in American history when it was normal for middle class families to own a house in the city and one out in the mountains or Florida or somewhere else.

When?

I remember that from I Love Lucy episodes when I was a kid, but I only knew one family that did.

When was it "normal"?

I don't think it was "normal". I think it was a big damn deal to whomever was fortunate enough to achieve it. Certainly not typical by any means. IMHO.

originally posted by: Tardacus
When I was a kid people had more disposable income because there were a lot less things to spend it on.
There was no cable T.V. no computers no cell phones no video games no jet skis no internet no big screen T.V`s etc
there were a lot fewer things competing for your dollars back then, after buying a house and a new car what else was there really to spend your money on except a second house and a second car or RV.

Not to mention "stuff" was made better and lasted longer, most items were designed to last a lifetime or longer, and just a theory of mine but people 50 years ago were much more community minded and worked better togethor....

People still buy timeshares. That may not be a second home, but it is a vacation retreat.

a reply to: kosmicjack

How do we find data?

a reply to: onequestion

You are flying way over my head here One. You say there was a time in American history. When was this do you think.
You also mention 'that' generation'. Which generation.
I was raised working class and then worked in the working class and do not know as it was ever 'normal' to own two homes as a working class family. For that matter, as I think back on it, I cannot readily name for you family or friends who either do, or did.

I am older and was poor when young. I don't recall a time when middle class could buy two homes...at least not in the middle of middle class. In the late 80's early 90's our income was before taxes was about 80k with the ex working overtime. We paid our house off in 7 yrs and a second home or RV never occurred to us. Neither of us wanted any debt.

My guess is those who chose to have an extra house or RV or whatever didn't mind debt. Poor choice imo.

And I agree with Tardacus, there was less to spend on other than your home and children. However shortly after we did get a computer and internet then a cell for my work. Seems these days everyone has to have the latest greatest of every device ever made.

My ex would be making about the same now than he did in the early 90's tho I made about $10 hr more than the 90's in 2008. I was a nurse, he worked for GM. That tells you something.

a reply to: onequestion

Everyone I can think of has many extras. I'm broke and have fourwheelers, snowmachinces, a boat, two trucks. A house too. Its not easy. I sleep in my truck when I work out of town, sometimes I eat pop tarts for dinner, (not heated). And sometimes it a hot meal, the cup of noodles.

If you choose wisely what you spend your money on, you can afford all sorts of things you never had.

I quit using and selling drugs. Now I have the opportunity to buy what I want. I'm paying off my last student loan and in the next year I plan on building a 30x30 shop on some new property. Hopefully all in cash.

I make in my trade anywhere from $35,000- $85,000 a year depending on weather, projects, and buying a soda for 3-5$ at the gas station is the fist habit to quit. Buy in bulk only. You will save so much money.

The more you consume, the faster you eat yourself out of a home.

I only work 6-7 months a year since I was in my twenties.

Most are making some serious mistakes or are too lazy to obtain what they want. I'll I can say is that more people are getting lazier but the fact remains, it's all on a persons drive and purpose


I work on Sundays, sometimes till midnight on weekdays in construction just to make $40. It all adds up.

IT'S ALL OBTAINABLE PEOPLE!