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This page (http://www.fiftiesweb.com/pop/prices-1955.htm http://www.fiftiesweb.com/pop/prices-1955.htm) suggests that the average income in 1955 was $4,137, and
by aetherson 11y ago
This page (http://www.fiftiesweb.com/pop/prices-1955.htm http://www.fiftiesweb.com/pop/prices-1955.htm) suggests that the average income in 1955 was $4,137, and
a house cost $22,000 (ie, 5.3x an annual income)
a loaf of bread cost $0.18 (ie, 0.004% of annual income)
Today, a median household income is $51,939 and
a median house costs $188,900 (ie, 3.63x an annual income)
a loaf of bread costs $2.26 (ie, 0.004% of annual income)
Current median income and house prices from Google, loaf of bread cost from http://www.numbeo.com/cost-of-living/country_result.jsp?country=United+States http://www.numbeo.com/cost-of-living/country_result.jsp?coun....
All dollars nominal.
- deleted 11y ago[deleted]
- mikeash 11y agoHow about comparing median individual income, rather than median household income? That median household income in 1955 likely reflected a single individual income, whereas the median income today likely reflects two.
- datashovel 11y agoPerhaps it would be worth considering that in 1955 household income was generally earned by fewer household members than it is today. Probably close to 1/2. Would it be safe to assume, then, that's approximately how much less the average household bread winner earns in today's world? EDIT: Here's a fancy chart I just found, thought it might be useful to make the point: http://www.bls.gov/opub/ted/2000/feb/wk3/art03.htm http://www.bls.gov/opub/ted/2000/feb/wk3/art03.htm Also I'm not sure if it's a typo, but your comparison between "average income" in 1955 and "median household income" today seems to hurt, not help your point.