Thread: When I was a little guy
noonwitchGuest08-19-2008, 09:43 AM
My parents bought the home I grew up in for $29,900 in 1969. It was four bedrooms, 1 and 1/2 bath, two stories with an unfinished basement, and had almost an acre of land. It was in one of the better school districts in the Grand Rapids area (Kentwood), and my parents thought it was a good deal.
08-19-2008, 11:22 AM
My mom worked at Sears in 1958 and made $1.35 an hour. ;)
- Join Date
- May 2008
- Join Date
- May 2008
noonwitchGuest08-19-2008, 01:12 PM
Possibly, but not on an acre of land, and definitely not with good public schools. My parents sold the same house in 1986 for $120,000. We had added an in-ground pool at one point, which added a little value, but mostly it was the schools and the large plot that sold it.
If I had enough money, I'd be buying some of the empty houses in metro Detroit and renting them out. Especially in Warren, where I live, because the houses were only recently vacated and are still in pretty good shape.
08-19-2008, 02:45 PM
In 2007, $1.00 from 1950 is worth:
$8.61 using the Consumer Price Index
$7.26 using the GDP deflator
$13.48 using the value of consumer bundle *
$13.81 using the unskilled wage *
$23.60 using the nominal GDP per capita
$47.00 using the relative share of GDP
in 1950 the price of gas was approximately 30 cents per gallon. Adjusted for inflation, a gallon of gas today should cost right at $2.64, assuming taxes are the same.
But taxes have not stayed the same. The tax per gallon of gas in 1950 was roughly 1.5% of the price. Today, federal, state, and local taxes account for approximately 20% of gas's posted price. Taking inflation and the increase in taxes into account (assuming no change in supply or demand) the same gallon of gas that cost 30 cents in 1950 should today cost about $3.13.The 21st century. The age of Smart phones and Stupid people.
It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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