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Title: You would have to earn $380,000 per year to have the same wealth as your average gilded age peasant
Source:
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URL Source: https://www.investmentwatchblog.com ... ur-average-gilded-age-peasant/
Published: Jan 29, 2022
Author: staff
Post Date: 2022-01-29 20:23:44 by Horse
Keywords: None
Views: 1601
Comments: 42
Wages Have Decreased by 92% Over The Last 130 Years Since the Gilded Age: Poster Comment: SEE CHART.
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Begin Trace Mode for Comment # 21.
#1. To: Horse (#0)
I'd like to see the specs on that median 1912 house versus those of 2022's median house.
In 1932 my parents bought a house in Paterson NY (then a decent city) for $2,000 and, yes, it had electricity and indoor plumbing.
At $5/day (what Ford was paying from 1914 on) that would be in the neighborhood of $1300/year. In High School, we were taught that the basic estimate on how much house one could afford was 2.5*annual wages, so that sounds pretty affordable. I thought 2.5*annual wages was nuts, people have to eat, too.
I suppose you could buy a house these days for 2.5 annual salary, depending on where you live, but it would be difficult.
Or you could buy a property that should've been condemned for four times the price it's worth and keep dumping money into it until you go broke. I'm trying to help a buddy out that's about a hundred grand under water on a fifty grand project. When do you get a gambler to stop? I suppose if he lives to be four thousand year old, he'll make out. Why do you think I have to buy Tums in 5 gallon buckets? Everybody thinks they're gonna get rich doing nothing. Don't work that way. I don't work too much anymore. I never get paid. I do it for fun, so I can say, "I told yo so, dumbass!"
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#7. To: StraitGate (#1)
#8. To: Ada (#7)
#20. To: Dakmar (#8)
#21. To: Ada, 4um (#20)
I suppose you could buy a house these days for 2.5 annual salary, depending on where you live, but it would be difficult.
Replies to Comment # 21.