- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Cool graphic showing decline in labor hours required to buy home stuff: 1979 vs now: wow
Posted on 10/13/18 at 11:15 am to HailHailtoMichigan!
Posted on 10/13/18 at 11:15 am to HailHailtoMichigan!
Did not control for inflation?
0
Posted on 10/13/18 at 11:28 am to Sun God
Ooh ooh do a college education or a home
Posted on 10/13/18 at 11:31 am to LSU6262
quote:
$5,489 or 835 labor hours
$26,615 or 1263 labor hours
51% increase
Well, back then a truck was a truck...
1973 Ford F100 (and this is the fancy model with automatic transmission)
Now trucks are glorified luxury cars.
2019 Ford F-150
Posted on 10/13/18 at 11:32 am to HailHailtoMichigan!
What is the quality of the product today compared to 1979?
Posted on 10/13/18 at 11:34 am to bmy
quote:
Ooh ooh do a college education or a home
With the high interest rates a mortgage for an 80k house was as much then as a 180k house is today.
Posted on 10/13/18 at 11:38 am to RogerTheShrubber
A 50k home in 1979 adjusted for inflation would be about 180k today. You can still buy a home for 180k. It might not be as big as you want or where you want but that's a reasonable home price in many areas of the country.
This post was edited on 10/13/18 at 11:39 am
Posted on 10/13/18 at 11:42 am to RogerTheShrubber
Median home price is like 215k now
Posted on 10/13/18 at 11:46 am to OweO
quote:
What is the quality of the product today compared to 1979?
Generally better.
Posted on 10/13/18 at 11:48 am to bmy
quote:
Median home price is like 215k now
Houses are much much larger.
Posted on 10/13/18 at 11:50 am to fallguy_1978
quote:
You can still buy a home for 180k. It might not be as big as you want or where you want but that's a reasonable home price in many areas of the country.
I imagine if you take the 50k home in 1980, it would be less than 180k. Homes have grown so much larger than they were in the day.
Typically 900-1200 sq ft in those days.
Posted on 10/13/18 at 11:53 am to Sun God
My first cellular car phone in the mid 1980’s cost me around $4,500. So do the maths.
Posted on 10/13/18 at 11:55 am to HailHailtoMichigan!
Now do health insurance and hospital costs.
Posted on 10/13/18 at 11:56 am to RogerTheShrubber
quote:
Mortgage rates made payments back in those days extremely high
Good point.
An accurate comparison would be the monthly P&I with 20% down and a 30-year term.
Posted on 10/13/18 at 11:58 am to fallguy_1978
quote:
A 50k home in 1979 adjusted for inflation would be about 180k today. You can still buy a home for 180k. It might not be as big as you want or where you want but that's a reasonable home price in many areas of the country.
Exactly. The difference is back then people were content to live within their means. They understood you usually had to start out in a starter home then with time and savings you might (keycword might) be able to get a bigger and nicer house down the road. Now they think they’re entitled to go straight into a big brick mansion right from the start.
This was what most people started out with in the 70s.
Now they think they have to start out with this.
And let’s not forget that in 1979 home interest rates were over 10% and almost always required a huge down payment, as much as 20%. Now mortgage rates are well under 5% and most time require little or no down payment.
Posted on 10/13/18 at 12:17 pm to Darth_Vader
Our first house was in the country near Walker. 1380sq ft and about 123k for a family of 4. It had carpet and vinyl siding. It was also easily affordable for a young couple with 2 kids.
Posted on 10/13/18 at 12:21 pm to HailHailtoMichigan!
Do do the price of homes, cars, education, healthcare, and graceries
Posted on 10/13/18 at 12:21 pm to HailHailtoMichigan!
You can thank China.
Posted on 10/13/18 at 12:23 pm to HailHailtoMichigan!
1979.
Carter sucked.
Carter sucked.
Posted on 10/13/18 at 12:23 pm to theunknownknight
quote:
Do do the price of homes, cars, education, healthcare, and graceries
Health care and education are the only things in that list that have far outpaced inflation.
Posted on 10/13/18 at 12:55 pm to fallguy_1978
quote:
Our first house was in the country near Walker. 1380sq ft and about 123k for a family of 4. It had carpet and vinyl siding. It was also easily affordable for a young couple with 2 kids
That is the typical house myself and most of my friends grew up in in the 60s-70s, parents today consider having sibling share a bedroom the equivalent to living in poverty.
Page 5 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News