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7/3/2025, 10:58:05 PM
>>714419569
In the Great Depression, the ratio of average home cost to average wages was approximately 4:1. Using the data from 1939, where the median wage for white men was $1,419 and assuming a similar home price as in 1933 (around $4,000), this ratio is confirmed.
In contrast, the ratio in 2023 is much higher. With an mean wage of $53,490 and a median home cost of $436,800, the ratio is approximately 8:1. This indicates that, despite higher wages, homes have become relatively more expensive for the average person today compared to the Great Depression era.
In the Great Depression, the ratio of average home cost to average wages was approximately 4:1. Using the data from 1939, where the median wage for white men was $1,419 and assuming a similar home price as in 1933 (around $4,000), this ratio is confirmed.
In contrast, the ratio in 2023 is much higher. With an mean wage of $53,490 and a median home cost of $436,800, the ratio is approximately 8:1. This indicates that, despite higher wages, homes have become relatively more expensive for the average person today compared to the Great Depression era.
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