PadreSJNov 28, 2023

Data Points:

Federal Minimum Wage
1970 - $1.45
2023 - $7.25

Median Home Price (US)
1970 - $23k
2023 - $431k

In 1970, the down payment on a home (15% or $3,450) would take ~3,000 hours (after tax) or 1-1/2 years at FMW (40 hours a week).

In 2023, it would take ~10,790 FMW hours (after tax), or 5 years 3 months AND you'd never be able to afford the payments.

...

This is a good thing to remember when the older generations mock the younger for not building wealth as they did.

Show threadMatt Blaze
@PadreSJ What's left to mock the young about? I guess it's back to just their bad taste in music.
Nov 28, 2023 at 9:47pmWeb
Show threadKaiyalaiNov 28, 2023

@mattblaze @PadreSJ maybe we can lay off the mockery for a bit?

Just a thought. A silly one, I know. But still.

Show threadMatt BlazeNov 28, 2023
@Kaiyalai @PadreSJ Yes, I too like to take things I read on the Internet extremely literally and then scold people for them.