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re: Minimum wage in the 1970s would be the equivalent of making almost $56,000 a year now
Posted on 4/22/26 at 9:20 am to theunknownknight
Posted on 4/22/26 at 9:20 am to theunknownknight
According to the BLS inflation calculator $1.70 in January 1972 is equivalent to $13.27 in March 2026.
The cost of living isn't just the cost of housing. Many things are, relatively, far less expensive today than they were in 1971, for example. A 1971 VW Beatle cost about $1900 ($15,000 today) and was good for about 100k miles with some serious maintenance and most likely some pretty expensive repairs. It also got about 24 MPG. The cheapest car in America today, according to google, is a Nissan Versa at $19,000, $4000 more BUT it gets about 36 MPG, requires no more maintenance than regular oil changes, and there are 380 of the things listed on Cargurus with more than 200K miles on them.
The cost of living isn't just the cost of housing. Many things are, relatively, far less expensive today than they were in 1971, for example. A 1971 VW Beatle cost about $1900 ($15,000 today) and was good for about 100k miles with some serious maintenance and most likely some pretty expensive repairs. It also got about 24 MPG. The cheapest car in America today, according to google, is a Nissan Versa at $19,000, $4000 more BUT it gets about 36 MPG, requires no more maintenance than regular oil changes, and there are 380 of the things listed on Cargurus with more than 200K miles on them.
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Posted on 4/22/26 at 9:21 am to Techdave
quote:We need to figure out how to address it now because, as the older generations die off, the younger generations, who feel slighted and shafted, are going to start voting for shite that will frick us all.
The point I'm making is to stop blaming the world for your problems.
That is where all of the older generations are screwing up. It is a deep seated retardation on their part.
They will start coming for 401ks.
Why would the younger voters care about maintaining the system when they believe the system is fricking them?
quote:Disregarding the current situation that younger generations face will frick all of us.
Complaining about the current state of things will get you nowhere, there are plenty of options to make the dream happen..
How this is lost on some of you is mind blowing.
Posted on 4/22/26 at 9:23 am to theunknownknight
Anything that is able to be financed by financiers who are backed by government will always increase exponentially.
This post was edited on 4/22/26 at 9:26 am
Posted on 4/22/26 at 9:25 am to BluegrassBelle
quote:
Then what other numerous ways do you suggest a younger person engage in to be able to afford a $300k house, a car, and to feed their family before the age of 40 today?
Why in the hell would you start with a $300K house?? A quick search of Lafayette shows 100's of houses below $200K. And Lafayette is a good a place as any in LA.
quote:
I bet you think you can just apply online, a company will call you right back, and boom you’re in don’t you?
Build your career just like equity, a little at a time. Doors eventually open with experience, skills, and a good degree or trade.
If you saved money with a reasonable house and vehicle purchase, then groceries don't make much of a difference.
Posted on 4/22/26 at 9:25 am to theunknownknight
quote:
In 1971:
The median home price = $25,200
today:
The median home price = $420,000
Adjusted for inflation the $25,200 = $209,079 today
My only criticism of these comparisons is that the average home size in 1971 was just under 1,400 sq. ft. Today the average home size is 2,400 sq. ft.
Inflation adjusted the cost per square foot to build new in 1971 is $145. The average price per square foot for a new build today is $154. Obviously, these is very regional and location dependent, but hat's extremely consistent pricing throughout an extended timeframe.
Home prices aren't the challenge, it's the diminished earnings and the fact that inflation has escalated while earnings have stayed flat. The value of a dollar today is .12¢ of a dollar in 1971. Globalization, NAFTA and government monetary policy like qualitative easing has been absolutely brutal to the average American and made it nearly impossible for us all to get ahead.
Posted on 4/22/26 at 9:26 am to Bayou_Tiger_225
quote:
The whole point of the argument is that if you put in equal amounts of work in the 70s and in the 2020s, you end up with way less in the 2020s.
Oh, I get the point of the argument. Just gets old hearing people complain as to why they don't have as much as they should.
Posted on 4/22/26 at 9:26 am to RolltidePA
quote:so like this
My only criticism of these comparisons is that the average home size in 1971 was just under 1,400 sq. ft
Even has the carpet from 1971 Cost is 400,000k for 1400 sq ft
LINK
Posted on 4/22/26 at 9:27 am to Techdave
quote:This is also starting to be a laughable statement in 2026.
Get a better degree or trade
Get a trade? Would be nice if you weren’t competing with the flood of immigrants that have come in and devalued the labor market.
Get a better degree? That’s what was sold to an entire generation, only to have their jobs shipped overseas, replaced by visa workers from India, or cut due to AI advancements.
Posted on 4/22/26 at 9:27 am to JohnnyKilroy
quote:
Cars have lagged inflation baw.
Not when you factor in light trucks, which are over half of cars today. An F150 was under $6000 in 1980. That's about $25,000 today. You can't buy a used five year old truck for that, let alone a new one.
Posted on 4/22/26 at 9:28 am to Techdave
quote:
Oh, I get the point of the argument.
It doesn't seem like you do.
quote:
Just gets old hearing people complain as to why they don't have as much as they should.
Should? or could?
Posted on 4/22/26 at 9:30 am to lsupride87
quote:
so like this Even has the carpet from 1971
Man, that carpet is luscious!
Posted on 4/22/26 at 9:30 am to Salmon
quote:
Should? or could?
Should. You know like an entitlement.
Posted on 4/22/26 at 9:30 am to Techdave
quote:So what do you want them to do. Acknowledge that the older generations decisions fricked them over and just continue about their day? Might be a little bit easier to do if the older generation at least acknowledged the situation. Instead older folks just gaslight them saying it’s their own fault and need to work harder.
Oh, I get the point of the argument. Just gets old hearing people complain as to why they don't have as much as they should.
Posted on 4/22/26 at 9:30 am to Techdave
quote:
If you saved money with a reasonable house and vehicle purchase, then groceries don't make much of a difference.
Buddy you can’t even get a decent used car for less than $15,000.
quote:
Build your career just like equity, a little at a time. Doors eventually open with experience, skills, and a good degree or trade.
So more student loans. That end up being the equivalent of a house payment. And jobs that won’t hire unless you have a degree.
Posted on 4/22/26 at 9:30 am to cubsfan5150
quote:
Now do it in comparison to a television
Or a washer and dryer, refrigerator, stove....there are MANY items which are "necessities" which are far more affordable today than they were 20 or more years ago....and most of them are far more reliable.
Housing, education, health care and child care are FAR more expensive and are the only real reasons wages have only outpaced inflation by a miniscule amount over the last 50 or so years. All of those, other than health care, impact young people more than middle aged and old folks. We could EASILY lower the costs of education, healthcare and childcare without doing any real harm to GDP but it would mean that some folks only had 9 vacation homes instead of 10. Housing costs could also come way down if we were willing to make an effort to bring them down....unfortunately far too many people are convinced their home is an investment and are unwilling to see its value stagnate or go down and will die on that hill in the voting booth. Housing costs are falling, rent is plummeting in many areas, due to a influx of supply over demand. At least some of that is due to efforts to streamline building processes in many areas.
Posted on 4/22/26 at 9:31 am to Techdave
quote:
Go for a better paying job, and don't listen to everyone that says "do what you love". Those people are idiots because you will have to work some shite jobs. Save your money. Don't spend on stupid shite. Self explanatory.
Are you writing smut for the boomers on here?
Posted on 4/22/26 at 9:31 am to JohnnyKilroy
quote:
Cars have lagged inflation baw.
Trucks, on the other hand, have not.
Posted on 4/22/26 at 9:32 am to theunknownknight
Bad comparison. Deflated dollar leads to skewed results.
Posted on 4/22/26 at 9:33 am to Techdave
quote:
Should. You know like an entitlement.
I think most people view it as "could".
But when a generation was told to do certain things and they would get certain things, and then they do those things and the things they were promised are mostly unobtainable, I really don't blame them for believing that they should have those things.
Posted on 4/22/26 at 9:33 am to Techdave
quote:Because the only way to live in an area that has decent schools, isn’t a cesspool with criminals, and is an area where your children can safely play outside without fearing for their safety, is to pay more.
Why in the hell would you start with a $300K house??
This isn’t 50-60 years ago.
quote:We are majority from LA, we know what a sub-$200k home in Lafayette will be and the neighborhood it will be in.
A quick search of Lafayette shows 100's of houses below $200K. And Lafayette is a good a place as any in LA.
quote:Gen Z men with college degrees now how an unemployment rate equal to that of high school grads.
Build your career just like equity, a little at a time. Doors eventually open with experience, skills, and a good degree or trade.
This post was edited on 4/22/26 at 9:35 am
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