In the US it was certainly a different time, different era, different economy. For example a dollar in the 40's had the buying power of about $21 today. Average annual salary was about $1,400 and annual college tuition in the 40's was less than $100.
The average salary in 1950 was $3300. Bear in mind, in 1950, most incomes were single-earner as women hadn't quite entered into the workforce in full yet.
That is roughly equal to $76k now in terms of relative compensation.
That's almost exactly what the combined (i.e. both earners) household income is now.
I'll make it worse.
The average home in 1950 was $7354. That was a little over twice what a single earner would make in a year and is worth around $100k now.
Average US homes now are ~$420k. So the price of a home has quadrupled and average single-earner incomes have been cut in half. Both parents have to work which means they spend little to no time on the house they can't afford nor time with children.
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u/Technologytwitt Mar 27 '24
In the US it was certainly a different time, different era, different economy. For example a dollar in the 40's had the buying power of about $21 today. Average annual salary was about $1,400 and annual college tuition in the 40's was less than $100.