the cost of a house
In 1977, the nice fellow and I bought the house I live in for $46,900. We both made about $4.75 an hour.
Ooh, looky:
In 2010, the relative worth of $4.75 from 1977 is:
$17.10 using the Consumer Price Index
$14.00 using the GDP deflator
$15.50 using the unskilled wage
$17.60 using the Production Worker Compensation
$24.10 using the nominal GDP per capita
$34.00 using the relative share of GDP
In 2010, the relative worth of $46,900.00 from 1977 is:
$169,000.00 using the Consumer Price Index
$138,000.00 using the GDP deflator
$153,000.00 using the unskilled wage
$173,000.00 using the Production Worker Compensation
$238,000.00 using the nominal GDP per capita
$336,000.00 using the relative share of GDP
So in order to meet the conditions that the nice fellow and I encountered in 1977, our kids would have to be making something like $16 an hour each and they would have to find a house worth something less than $200,000.
That might be doable.
This is not what I started out to say.
Ooh, looky:
In 2010, the relative worth of $4.75 from 1977 is:
$17.10 using the Consumer Price Index
$14.00 using the GDP deflator
$15.50 using the unskilled wage
$17.60 using the Production Worker Compensation
$24.10 using the nominal GDP per capita
$34.00 using the relative share of GDP
In 2010, the relative worth of $46,900.00 from 1977 is:
$169,000.00 using the Consumer Price Index
$138,000.00 using the GDP deflator
$153,000.00 using the unskilled wage
$173,000.00 using the Production Worker Compensation
$238,000.00 using the nominal GDP per capita
$336,000.00 using the relative share of GDP
So in order to meet the conditions that the nice fellow and I encountered in 1977, our kids would have to be making something like $16 an hour each and they would have to find a house worth something less than $200,000.
That might be doable.
This is not what I started out to say.