Back
As we continue to whirl forward into the latter half of 2017, it’s easy to turn that calendar page once more and ask: “Where the heck did the year go?!” Time marches forward with a ferocity that’s difficult to comprehend, ushering in cycles of seasons and trends. From fashion to technology to homebuying trends, “the good old days” are composed of a million different facts, figures, statistics, and stories.
And so, in the spirit of nostalgia mingled with curiosity, we thought we’d explore the world of real estate from the 1950’s to Present Day. Just how has buying a home in New Braunfels, TX changed since your parents’ day?
Note: *Price-based data has been adjusted per inflation to 2000 value. (Source: CNBC)
722 Nottingham Dr | $359,500 | 1956
The 1950’s
Cost: Average Annual Income: $38,000 / Average Mortgage Rate: 4.7% / Median Cost of Home: $44,600
Architecture Style: Brick Ramblers, A-frames, Levittown, Colonial, Single-story Ranch
Design Trends: Popular features and styles included smaller square footage, expansive driveways, carports, pastel bathroom tiles, linoleum flooring, conversation nooks and pits, open-plan living rooms, and Scandinavian influence.
Mindset: Right after the end of World War II, the 1950’s was a decade filled with celebration. Comfort and leisure were on tap for design, and Americans were making enough in their incomes to retreat from the city into the suburbs. This is the beginning of the famous mid-century design and aesthetic that is still very popular today. With veterans home from war, the chance to buy a home and start a family was immediate, and so the market was satisfied with families and entering into a new and comfortable phase of their lives.
The 1960’s
Cost: Average Annual Income: $44,000 / Average Mortgage Rate: 6.3% / Median Cost of Home: $58,600
Architecture Style: Usonian, Ranch style, Modern, Levittown, A-Frames
Design Trends: Popular features and styles included terrazzo floors, double paned windows, vinyl floors, conversation nooks and pits, flat panes, larger windows, changes in elevation in the home, integration with nature, green, gold, yellow, and orange colors, flat-pack furniture, shag rugs, and pop art.
Mindset: The world was focused on Sputnik, airplanes, the Cold War, and the Space Race. There were lots of modern and abstract expressionism overtaking traditional decor, and elements to the home were to invigorate the dweller’s lifestyle. The economy was still booming in the post-war era, and people had more disposable income to purchase non-essential things. However, it was still important to buy into the real estate market for comfortability and investment reasons.
2174 Triple Peak Dr | $419,000 | 1975
The 1970’s
Cost: Average Annual Income: $48,500 / Average Mortgage Rate: 9.0% / Median Cost of Home: $65,600
Architecture Style: Split-Level, Split-Entry, Ranch Style, Brutalism, Structuralism, A-Frames, Post-and-Beam Style, Domes, Cubes
Design Trends: Popular styles and trends included wood paneling, open plan living rooms, minimalism, open-plan living spaces, bohemian styles, lively color, funky lamps, green and gold appliances, exposed brick, geometric shapes and lines, atriums, etc.
Mindset: As the recession was hitting and mortgage rates were going up, housing prices were slowly beginning to rise faster than income, along with unemployment rates. There was also a shifting mindset in environmentalism, and many people were losing their love for the excess items of a post-war economy. People born shortly after the war had ended now in the market for buying homes, and filling these smaller square footage homes with the traditional nuclear family model, which was smaller than previous generations.
3627 Granby Ct | $379,999 | 1981
The 1980’s
Cost: Average Annual Income: $50,000 / Average Mortgage Rate: 12.7% / Median Cost of Home: $93,400
Architecture Style: Postmodern architecture, Split-level, Post-and-Beam, Domes, Ranch style
Design Trends: Popular styles and trends included floral wallpaper, glass block walls, blank facades, cathedral ceilings, sunken living rooms, mirrored closets, glass tables, overstuffed couches, ferns, track lights, and lots of grays.
Mindset: These days, 1980’s are widely known as one of the least attractive decades. Whoops! And besides a rough era for architecture and aesthetic design, the real estate market was also having a tough time. Mortgage rates were sent skyrocketing. In this era, home ownership became more of a luxury than an expectation.
1247 Vista Bonita | $285,000 | 1998
The 1990’s
Cost: Average Annual Income: $54,000 / Average Mortgage Rate: 8.1% / Median Cost of Home: $101,100
Architecture Style: Minimalism, Levittown, Ranch style, Post-and-Beam, Split Level
Design Trends: Popular styles and designs included large master suites, walk-in closet, en-suite bathrooms, all white kitchens, art deco, island cooktops, pot shelves, larger square footage in the home, inflatable furniture, pine cabinetry, minimalism, wall to wall carpeting, and Japanese influence.
Mindset: It seems everyone (including the real estate market) woke up in the 1990’s, looked back at the 1980’s, and thought: “What happened?” Although the real estate market prices were growing faster, mortgage rates were declining, bringing some optimism into the market. However, the 1990s didn’t make it out without some casualties - let’s be sure never to mention Hollywood-style vanity lighting and inflatable furniture ever again.
2054 Carlisle Castle Dr | $238,500 | 2004
The 2000’s
Cost: Average Annual Income: $56,000 / Average Mortgage Rate: 6.3% / Median Cost of Home: $119,600
Architecture Style: Neo-colonial, Victorian, Mediterranean, Master Planned, Contemporary, Modern Traditional, Tuscan
Design Trends: Popular designs and trends included infinity pools, snail showers, pre-wired surround sound, oil rubbed bronze, granite countertops, stainless steel, furniture-style islands, glazed kitchen cabinets, and two-story living rooms.
Mindset: The early parts of the 2000’s had an awkward phase of leaving the 90’s designs behind, but it eventually came into its own with bringing over a lot more Mediterranean-style homes that spiced up neighborhoods. In the middle of the decade, we witnessed the housing bubble and market crash, and we saw another recession. It was a tough time to buy a house, and trends were becoming more fleeting.
3980 Lariat Rdg | $775,000 | 2010
The 2010’s-Present
Cost: Average Annual Income: $53,000 / Average Mortgage Rate: 4.1% / Median Cost of Home: $170,000
Architecture Style: Courtyard-style, Mediterranean, Country-style, Traditional, Southwestern, Master planned, Contemporary, European-influenced
Design Trends: Popular designs and trends include hand-textured walls, hand-scraped hardwood floors, natural light exposure, indoor plants, museum-like decor, Scandinavian influence, energy efficient features, open shelving, Chevron, Edison bulbs, quartz, etc.
Mindset: Today, millennials have seen a shift in the timeline of the “traditional American dream” (i.e. finding a job, getting married, having kids). The average home buying age is around 44 (as opposed to 25-34 in previous decades). However, home owning is still a priority for young people, and mortgage rates have gone to a new low. We are seeing more people gravitate back into the urban areas from the suburban neighborhoods, and the revival of the mid-century design is upon us.
And if you’re interested in owning an affordable property of your own in the New Braunfels area, we’d love to show you around town. Contact a lender today to see how much you can afford, and talk to a REALTOR ® to get started!
