Quick history lesson. In 1960 US minimum wage was $1.00/hour and the cost of the average US home was $11,000.00 A couple of high school kids could get married on graduation day and be homeowners in a few years.
The Europeans manage to get by with considerably smaller houses. You could fit nearly three average British homes — the British tend to be on the small side on housing — inside one average American home.
EDIT2: Elon Musk got on the whole “small house” fad thing a few years back. He lives in a $50k, 400 square foot box, and he’s the richest guy in the world. So we definitely could get by with considerably smaller houses.
Absolutely no way that nazi fuck lives in that tiny house. And people don’t get to choose what size houses are getting built, developers build homes by parameters outlined to maximize their profits. Then they slap the word ‘Luxury’’ in front of home and apartments to add a couple more thousand to the price. then some ‘passive-income’ touting fuck buys the house and uses some poor renters meager salary to pay off the mortgage.
$10.86 and $119.463 in today’s dollars. Currently the federal minimum wage is $7.25 or $0.67 an hour in 1960s dollars.
Assuming 2 weeks off a year this would be an annual income of $43,440 or 36% of the home’s value, less than 3 years wages. In 2025, the median home value is $416,900 and a couple earning the federal minimum wage would earn $29,000 per year, which is 7% of the home’s value or 14 years worth of wages.
Quick history lesson. In 1960 US minimum wage was $1.00/hour and the cost of the average US home was $11,000.00 A couple of high school kids could get married on graduation day and be homeowners in a few years.
People were buying houses that were smaller despite having larger household sizes then.
https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-square-feet-larger-than-in-1973-and-living-space-per-person-has-nearly-doubled/
More housing is where most of our increases in wealth have gone for the past century.
EDIT:
https://247wallst.com/special-report/2016/05/25/the-size-of-a-home-the-year-you-were-born/
This has size increase by decade.
In 1920, the average size of a new house in the US was 1,048 square feet, 248 square feet per person.
By 2015, the average size was 2,657 square feet. 1,046 square feet per person.
In the US, we have some of the largest houses in the world.
https://worldpopulationreview.com/country-rankings/house-size-by-country
The Europeans manage to get by with considerably smaller houses. You could fit nearly three average British homes — the British tend to be on the small side on housing — inside one average American home.
EDIT2: Elon Musk got on the whole “small house” fad thing a few years back. He lives in a $50k, 400 square foot box, and he’s the richest guy in the world. So we definitely could get by with considerably smaller houses.
Absolutely no way that nazi fuck lives in that tiny house. And people don’t get to choose what size houses are getting built, developers build homes by parameters outlined to maximize their profits. Then they slap the word ‘Luxury’’ in front of home and apartments to add a couple more thousand to the price. then some ‘passive-income’ touting fuck buys the house and uses some poor renters meager salary to pay off the mortgage.
$10.86 and $119.463 in today’s dollars. Currently the federal minimum wage is $7.25 or $0.67 an hour in 1960s dollars.
Assuming 2 weeks off a year this would be an annual income of $43,440 or 36% of the home’s value, less than 3 years wages. In 2025, the median home value is $416,900 and a couple earning the federal minimum wage would earn $29,000 per year, which is 7% of the home’s value or 14 years worth of wages.