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Yeah, my napkin math is probably superlative. The biggest factor is certainly housing - 1950s homes that cost $20k would easily cost 50x that today with simila
by cwkoss 4y ago
Yeah, my napkin math is probably superlative. The biggest factor is certainly housing - 1950s homes that cost $20k would easily cost 50x that today with similar lot size, layout and location. I think perspectives on what housing is 'comparable' are pretty squishy.
Inflation only accounts for 12x since 1950.
I think "median' might be adding some error to your analysis: I suspect skilled trades were probably earning more relative to median in 1950 than today's skilled trades earn relative to today's median. But wasn't able to find good historical numbers with a quick search.
- gusgus01 4y agoHere is the bls publication "Union Wages and Hours: Building Trades" from 1950: https://fraser.stlouisfed.org/files/docs/publications/bls/bls_1011_1951.pdf https://fraser.stlouisfed.org/files/docs/publications/bls/bl... Compared to the median tradesmen salary it has not kept up to inflation: https://www.bls.gov/oes/current/oes472061.htm https://www.bls.gov/oes/current/oes472061.htm But to be quite honest, those are exact comparisons, but it was what I found in like 5 minutes.