Originally Posted by
EllieGirl
The clothesline thread made me take a trip down memory lane. I remember when gas was under $.30 a gallon and there would be price "wars."
In 1956 minimum wage was $.75 an hour. Gas was $.25 a gallon and most cars would get 12 - 22 mpg (my boyfriend's convertible -4barrel carburetor- got about 5mpg).
So for 40 minutes work you could drive 24 - 40 miles.
Today, minimum wage is $7.25. Gas is $4 a gallon and cars get 25 - 40 mpg.
Today, for about 34 minutes work you can drive 25 - 40 miles.
In 1960, you could get a 1500 sf, 3 bdrm, 2 bath house for about $20K or the equivalent of about 11 years salary (2000 hours a year less taxes).
In 2012, the median price of a 2200 sf, 3 bdrm, 2 bath home is $150K, or the equivalent of about 11 years salary (2000 hours a year less taxes)