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by rayiner
11 days ago
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Manufactured goods, food, and clothing. Note that we tend to think of these things as not being a big deal, but that’s colored by the fact they’re so cheap. In 1970, a wall mount AC was about $400, when the median family income was under $10,000. Lots of people simply could not afford one. Today, a wall mount AC is still $400, while the median family income is over $80,000. People dismiss the fact that an AC unit has gotten 90% cheaper in real terms. But you wouldn’t do that if everyone in your family was huddled around a single AC unit in one room during a southern summer, as was very common in the 1970s. |
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What's average income less average house price? Has that gone up or down?