To: JNB
Ok, here are some figures I have dug up
http://www.economagic.com/em-cgi/data.exe/cenc25/c25m01 From this table, the median price of a home in 1963 was a little over $17K
http://www.usc.edu/schools/sppd/research/casden/research/data_folder/us_fainco.pdf From this table, the unadjusted median family income was $6,249
Now todays figures, the median family income is now $51K, and keep in mind that a far higher percentage of women work now compared to the 60s, a large majority of familes in the 60s had one income, compared to a large majority of familes having two incomes. The median price of a home in 2001 according to the table was $180K. So the ratio of housing prices to family income was around 2.8:1 in 1963, and it is now around 3.6:1. I have yet to dig up a chart of median individual income, though that will be next.
212 posted on
08/25/2003 6:51:51 PM PDT by
JNB
To: JNB; ninenot; FITZ; A. Pole; arete; Tokhtamish
Ok, here are some figures I have dug up
http://www.economagic.com/em-cgi/data.exe/cenc25/c25m01 From this table, the median price of a home in 1963 was a little over $17K
http://www.usc.edu/schools/sppd/research/casden/research/data_folder/us_fainco.pdf From this table, the unadjusted median family income was $6,249
Now todays figures, the median family income is now $51K, and keep in mind that a far higher percentage of women work now compared to the 60s, a large majority of familes in the 60s had one income, compared to a large majority of familes having two incomes. The median price of a home in 2001 according to the table was $180K. So the ratio of housing prices to family income was around 2.8:1 in 1963, and it is now around 3.6:1. I have yet to dig up a chart of median individual income, though that will be next.
218 posted on
08/25/2003 6:54:17 PM PDT by
JNB
To: JNB
232 posted on
08/25/2003 6:58:54 PM PDT by
Texas_Dawg
(Proudly posting without the </sarcasm> tag for at least a few months.)
To: JNB
And notice how Texas_Dawg ignores other indices of well being such as twice the family size then than now, less need of a college diploma (your least earning years aren't spent paying back thousands in college loans so you can jump right into home ownership in your 20's), no need for a working spouse (so you can do with one car, no day care, no preschool), marrying sooner because you can afford to start a family in your 20's, etc. Nowadays the marriage age is creeping up and up because it takes longer for people to get economically settled.
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