Family of four?? How about ONE PERSON? I don’t make 50k a year, but I make about half that and if I didn’t have the good fortune to be living rent-free currently, I’m not sure I’d be able to afford to eat. I most definitely wouldn’t be able to afford a cell phone, internet, health care and car insurance.
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This chart is based on the Consumer Price index. It is a flawed metric as it is hard to compare the price of a modern car to a 1950 car feature for feature.
A house for instance, the cost per square foot has stayed stable since 1970, the reason for the house costing more is the average house has increased by about 1Ksqft over the same time span. So the CPI isn’t comparing identical thing.
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