balderdash@lemmy.zip to memes@lemmy.world · edit-24 months agoBygone Eralemmy.zipimagemessage-square9fedilinkarrow-up19arrow-down11
arrow-up18arrow-down1imageBygone Eralemmy.zipbalderdash@lemmy.zip to memes@lemmy.world · edit-24 months agomessage-square9fedilink
minus-squareHildegarde@lemmy.worldlinkfedilinkarrow-up2·4 months agoSo maths time… If that cart is a weeks of groceries, it takes 1250 weeks of groceries to buy a house in 1980. According to a 2024 USA today article the average family with kids spends $331 per week on groceries. If the groceries per house ratio stayed the same, a house would be $413,750 in 2024. The U.S. median home price was $412,000 in September 2023, according to Redfin. I dunno seems pretty proportionate.
minus-squareI_Fart_Glitter@lemmy.worldlinkfedilinkarrow-up4·4 months agoThat’s not the issue. Average annual household income in the US in 1980 was $20,020- 42% of a house (average cost of a house in the US in 1980 was actually $47K). https://www.census.gov/library/publications/1982/demo/p60-132.html Average annual household income in the US in 2022 was $74,580- or 18% of a $412K house. https://www.census.gov/library/publications/2023/demo/p60-279.html
minus-squareTheFrogThatFlies@lemmy.worldlinkfedilinkarrow-up4·4 months agoAnd “household income” definition also changed: at the time the most common was that only the man of the household was working. So I’d say we are down to a quarter of what was earned then.
So maths time…
If that cart is a weeks of groceries, it takes 1250 weeks of groceries to buy a house in 1980.
According to a 2024 USA today article the average family with kids spends $331 per week on groceries.
If the groceries per house ratio stayed the same, a house would be $413,750 in 2024.
I dunno seems pretty proportionate.
That’s not the issue.
Average annual household income in the US in 1980 was $20,020- 42% of a house (average cost of a house in the US in 1980 was actually $47K).
https://www.census.gov/library/publications/1982/demo/p60-132.html
Average annual household income in the US in 2022 was $74,580- or 18% of a $412K house.
https://www.census.gov/library/publications/2023/demo/p60-279.html
And “household income” definition also changed: at the time the most common was that only the man of the household was working. So I’d say we are down to a quarter of what was earned then.