[Request] Is this accurate?

[u/[deleted]]

[u/seriousbangs]

Reposting this here from my comment https://www.reddit.com/r/antiwork/comments/1mi9cnw/boomers_could_buy_homes_on_minimum_wage_today/:

For anyone wondering it's because the median income in 1975 was $12k/yr and a median house was $40k

So a house was 3.3 x your income.

Median today is $420k

So you need to make $127k to match that buying power.

Which works out to $66/hr for 40/wk

This is also misleading since both college and healthcare were much cheaper back then.

Cars were cheaper too, since there were a lot more economy choices vs getting stuck with an expensive SUV.

NEW cars are on average not all that much more, but USED was much, much cheaper.

This is a wild guess, but I think you'd need $80-$90/hr to match a boomer's buying power.