My folks got married in the 60s. They bought their first house in the early 70s for 32k. 3 bed / 1 bath house with a big backyard in a decent neighborhood (albeit on a busy street). My mom and dad both worked, but my mom stopped when I was born (early 70s). House was tiny, about 800sq ft. They upgraded in the mid eighties for 120k. Bigger place on a quieter street. Mom was back to working again but we were able to take multiple vacations a year. Camping, Disney, etc. Today, I’m not sure they could do it. Sure they would be making more but the first house? 640k. Thats a 1900% increase. Thats about 6% increase year on year compounded. How has the salary growth been for the same period? 1% - 1.5% compounded yoy (inflation adjusted). Fucking gross.
My folks got married in the 60s. They bought their first house in the early 70s for 32k. 3 bed / 1 bath house with a big backyard in a decent neighborhood (albeit on a busy street). My mom and dad both worked, but my mom stopped when I was born (early 70s). House was tiny, about 800sq ft. They upgraded in the mid eighties for 120k. Bigger place on a quieter street. Mom was back to working again but we were able to take multiple vacations a year. Camping, Disney, etc. Today, I’m not sure they could do it. Sure they would be making more but the first house? 640k. Thats a 1900% increase. Thats about 6% increase year on year compounded. How has the salary growth been for the same period? 1% - 1.5% compounded yoy (inflation adjusted). Fucking gross.