this post was submitted on 26 Jan 2024
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[–] drdabbles@lemmy.world 2 points 2 years ago (1 children)

$1,731 in today's USD is $37,392. That new car would be $18k, rent was just over $500. There's places in the US where average rent is close to that, and I bet if we removed NYC and the Bay area the national average wouldn't be super far off.

Education and staples are where you're getting drilled on a daily basis. Harvard costs many times the average national income rather than being a fraction of it.

[–] ryannathans@aussie.zone 2 points 2 years ago* (last edited 2 years ago) (1 children)

Someone's overlooking the low low cost of buying a house back then. Essentially 2 years of salary. Housing where I live is now 20 years of median salary and about 19 years of average salary, and far more once you consider a loan.

[–] SkepticalButOpenMinded@lemmy.ca 1 points 2 years ago

House sizes have also ballooned. The average home size in 1949 was ~900 sq ft, whereas a new home now is ~2500 sq ft. It was still cheaper, but those homes prices are for a lot less house than people are imagining.

[–] SocialMediaRefugee@lemmy.world 1 points 2 years ago

Chasing lower prices? How about higher incomes?

NYT: "Per capita income in 1938; Average Figure Was $5l5, Compared With $679 in Boom Year and $376 in 1933 NEW YORK STATE HIGHEST Yearly Earnings Show a Mean of $822, With Mississippi Lowest With $205"