50 years ago gas was about 16 cents a gallon where I was growing up. A nice new car was about $3500 and a 1300 sq ft house on a quarter acre lot was about $12,000. So you may be about right with your statement.
I remember 25 to 30 cent gas. I don’t think gas has been .16 since the fifties. The earliest I remember was .25 and I am 72 so that would be about 1960 I think.