Man asks baby boomers how much they paid for their first home: "That's grocery prices nowadays"

A social media influencer, Delo ( @dangeloruff ), took to the streets to question individuals, predominantly older than himself about the cost of their first homes. What ensued was a candid revelation that highlighted the stark disparity in housing affordability across generations, particularly between millennials and baby boomers.

The median price of a home in the United States has skyrocketed in recent years, reaching $395,100, as of the latest data. To put this into perspective, Delo juxtaposed these figures with historical data, citing the median home price in 1984 at $79,900. The discrepancy is glaring and sets the stage for the revelations that follow. Delo's approach was straightforward yet eye-opening. Armed with a microphone and a camera, he approached individuals in various settings , from home improvement stores to supermarkets, posing the simple question, "How much did you pay for your first house?"

The responses he received were nothing short of astounding. One man, casually pushing a cart through a home improvement store, revealed that he purchased his first house for a mere $37,000. Adjusted for inflation, this would equate to approximately $147,973.95 in today's currency, a fraction of the current median home price. Similarly, a woman shared that her first home cost a mere $16,000, leaving Delo visibly astonished. Another couple recounted purchasing their home for $25,000 over four decades ago, further highlighting the stark contrast in housing affordability over time.

However, not all encounters yielded the same level of openness. In one instance, a woman adamantly refused to participate in the interview, citing her desire for privacy. While some speculated that this reluctance stemmed from embarrassment over the perceived low purchase price of their home, others suggested it may have been due to concerns about revealing substantial profits made from selling their property.

The reactions from viewers on social media were mixed, reflecting a broader generational divide in perceptions of housing affordability. Many expressed frustration and disbelief at the seemingly effortless ability of baby boomers to enter the housing market at a fraction of today's costs. Some even went as far as to suggest that boomers had lived through an era of unparalleled financial ease, contrasting sharply with the economic challenges faced by millennials today .

Speculation was rampant about the potential profits reaped by boomers who had purchased homes at relatively low prices and later sold them at substantially higher values. The idea that individuals may have profited immensely from real estate investments further exacerbated the frustration felt by younger generations struggling to afford homeownership in today's market.

As housing prices continue to soar, exacerbated by factors such as stagnant wages and limited supply, younger generations are left grappling with the harsh reality that owning a home may be out of reach for many. Whether through policy interventions, increased affordability initiatives, or innovative solutions, bridging the gap between generations in terms of housing accessibility is imperative for fostering a more equitable society.

You can follow Delo ( dangeloruff )  on TikTok for similar content.

Editor's note: This article was originally published on March 13, 2024. It has since been updated.