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How did they afford houses 100 years ago? The history of homeownership is CRAZY

Nicole Rudolph
248K subscribers
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110K views 2 weeks ago
Get your first purchase from Blueland for 15% off by clicking my link https://www.blueland.com/nicolerudolph Have you ever wondered what buying a house was like a century ago? Was everything more affordable? What about mortgages? Real estate agents? When did our modern system of buying a house with a small down payment and regular monthly repayments over 30 years become the norm? Turns out, it's a lot more recent than I realized. Only a century ago, mortgages were much more rare. Renting was far more common. But when things required at least a 50% down payment and a lump-sum payoff after only 5 years, it makes more sense! Our modern American system of buying a house developed as we went through economic crisis after crisis in the 20th century. From the Great Depression, to WWII, to fluctuating inflation rates of the 1980s, as we built up the system to buy the American Dream, we also made it an essential part of our economy. More city maps: ht …...more
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How did they afford houses 100 years ago? The history of homeownership is CRAZY
4.8KLikes
110,846Views
Mar 152025
Get your first purchase from Blueland for 15% off by clicking my link https://www.blueland.com/nicolerudolph Have you ever wondered what buying a house was like a century ago? Was everything more affordable? What about mortgages? Real estate agents? When did our modern system of buying a house with a small down payment and regular monthly repayments over 30 years become the norm? Turns out, it's a lot more recent than I realized. Only a century ago, mortgages were much more rare. Renting was far more common. But when things required at least a 50% down payment and a lump-sum payoff after only 5 years, it makes more sense! Our modern American system of buying a house developed as we went through economic crisis after crisis in the 20th century. From the Great Depression, to WWII, to fluctuating inflation rates of the 1980s, as we built up the system to buy the American Dream, we also made it an essential part of our economy. More city maps: https://dsl.richmond.edu/panorama/red... Sources: John Archer, The Resilience of Myth: The Politics of the American Dream , Traditional Dwellings and Settlements Review , SPRING 2014, Vol. 25, No. 2 , pp. 7-21 Jennifer Light, Discriminating Appraisals: Cartography, Computation, and Access to Federal Mortgage Insurance in the 1930s , Technology and Culture , July 2011, Vol. 52, No. 3, pp. 485-522 Richard K. Green and Susan M. Wachter , The American Mortgage in Historical and International Context, The Journal of Economic Perspectives , Autumn, 2005, Vol. 19, No. 4, pp. 93-114 Peter M. Carrozzo, Marketing the American Mortgage: The Emergency Home Finance Act of 1970, Real Property, Probate and Trust Journal , Winter 2005, Vol. 39, No. 4, pp. 765-805 Join this channel to get access to perks:    / @nicolerudolph   Socials Instagram:   / thenicolerudolph   Twitch:   / nicolerudolph   Tiktok:   / nicole_rudolph   Patreon:   / nicolerudolph   Contact for sponsorships: nicoler@viralnationtalent.com Contact for non-sponsor enquiries: RudolphQuestions@gmail.com Edited with DaVinci Resolve: https://www.blackmagicdesign.com/prod... 🎶Music via Epidemic Sound: https://www.epidemicsound.com 00:00 The American Dream 01:36 Good for Society 04:42 Vile Landlords 07:35 A Broken System 13:19 Legislating Mortgages 16:36 Modern Updates

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Nicole Rudolph

248K subscribers