Thread: When I was a little guy

Page 3 of 3 FirstFirst 123
Results 21 to 27 of 27
  1. #21  
    noonwitch
    Guest
    Quote Originally Posted by linda22003 View Post
    Just what I was saying (I should have read ahead). I'd love to have my father's mortgage payment of $66.00 a month from the 1950's, but I don't know if I would want my parents' combined income at the time of about $5000 a year.

    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.
    Reply With Quote  
     

  2. #22  
    Senior Member LogansPapa's Avatar
    Join Date
    May 2008
    Location
    Surf City, USA
    Posts
    3,782
    My mom worked at Sears in 1958 and made $1.35 an hour. ;)
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
    Reply With Quote  
     

  3. #23  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by LogansPapa View Post
    My mom worked at Sears in 1958 and made $1.35 an hour. ;)
    I was in the Army in 1958 and as a PFC made a whopping $110 per month. My first job bagging groceries in high school at A& P was 35 cents per hour.
    Reply With Quote  
     

  4. #24  
    Senior Member LogansPapa's Avatar
    Join Date
    May 2008
    Location
    Surf City, USA
    Posts
    3,782
    Quote Originally Posted by lacarnut View Post
    My first job bagging groceries in high school at A& P was 35 cents per hour.
    :eek: Holy crap!
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
    Reply With Quote  
     

  5. #25  
    Patent Member
    Join Date
    May 2008
    Location
    Iowa
    Posts
    1,784
    Quote Originally Posted by noonwitch View Post
    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.
    You can probably get that in Detroit nowadays.
    Reply With Quote  
     

  6. #26  
    noonwitch
    Guest
    Quote Originally Posted by biccat View Post
    You can probably get that in Detroit nowadays.

    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.
    Reply With Quote  
     

  7. #27  
    Senior Member Zeus's Avatar
    Join Date
    May 2008
    Location
    Tiny Redneck town in Texas
    Posts
    2,054
    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.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •