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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Mike M2 who wrote (96331)4/19/2001 2:24:42 PM
From: Don Lloyd  Read Replies (1) of 436258
 
mike -

...Back then minimum wage was about $1.15 now the effective min wage is $8.00 - anybody who would work for less probably isn't worth hiring -g- Roughly speaking it takes 4 times as many man hours to buy a house in these towns as it did 50 years ago.

Correct me if I'm wrong, but I would assume that the majority of the real (inflation corrected) increase in cost of a suburban home is due to the land cost, not an equivalent home itself. If this is true, the cost of a given lot would be expected to have increased significantly even if the economy were completely unchanged, just due to to the scarcity factor of the land itself and its alternate economic uses.

Regards, Don
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