Message from @Infinite
Discord ID: 675534096524640257
In other words, $1,000 in 1920 is equivalent in purchasing power to about $12,848.70 in 2020, a difference of $11,848.70 over 100 years. The 1920 inflation rate was 15.61%.
So imagine working for 5 years as a clerk at 7/11 in 2020 and buying a house for $12,000 in a major city
I'm looking for data on wages in 1920-ish
they would probably even be higher than wages in 2020 for a clerk
also honestly there is no cure for flu or viruses either these days
the only thing that's changed a bit is better sanitation
some vaccines have worked but most aren't effective and lower your immune system
yes, sanitation and practices are the key game-changers
I'm seeing average weekly wages like:
bakers $25
Brick mining $15
carpenters $27
clerical office work $15
engraver $25
meat packing $18
painters $28
textile worker $7
construction $11
iron worker $28
anyway, you get the picture
with inflation that's a lot of money
stating what I have just read requires no understanding
I have only stated what I have just read
I have yet to even say anything about it
$28 would be $380.70
in todays money
so you could more than afford to buy a home for 12,000 within 5 years
The inflation rate calculation looks good.
What do you think food cost in 1920?
To feed your family for a year.
i think it would cost much less than today
also if you owned property back then it wouldn't be uncommon to grow your own vegtables and live stock
true, but the work would still need to be done by you
looks like houses were not as inexpensive as you said ($1000)
more like $4,000 to $6,000 was the median cost of a house in Atlanta, in 1920
(I didn't pick Atlanta, the article simply is about Atlanta)
that means that your $4,000 to $6,000 house in 1920 would be $53,171 to $79,757, when adjusted.
According to the article, the median cost of a house in Atlanta now is $264,500.
Definitely some disparity there.
3x-5x more is pretty huge difference in price