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Old 05-20-2014, 09:24 AM
 
Location: Great State of Texas
86,093 posts, read 72,479,637 times
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You also have costs today that you didn't have in the past.
TV was free remember ? Few, if any, had internet. Most meals were still made from scratch and FF was a luxury.
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Old 05-20-2014, 10:57 AM
 
Location: State of Being
35,885 posts, read 67,147,825 times
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Originally Posted by HappyTexan View Post
You also have costs today that you didn't have in the past.
TV was free remember ? Few, if any, had internet. Most meals were still made from scratch and FF was a luxury.
In 1970, there was no internet, and no cell phones and no cable tv.

Most homes had a maximum of 2 phones. We had one in the hallway downstairs (there was a "built in" niche made for the phone to be placed there!) and one upstairs in that hallway.

Folks who "ate out" once a week were NOT the norm, but if they went to a restaurant, it was usually on Friday or Saturday night and was a big deal.

Many areas did not even have a McDonalds or any other type of "fast food." In 1970, I am not even sure that Hardees was widespread - I am thinking they were established in the late 60s. Seems like french fries were 12 cents, lol. I believe we got the first McD's in my town in 1971 or 1972. All the others - Burger King, Taco Bell - I never saw them til later. I have been told White Castle was around but they were in a different part of the country than where I grew up.

People were buying color TVs by 1970, but if there were 2 TVs, one was the "old" black and white, lol.
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Old 05-20-2014, 11:12 AM
 
Location: Pac. NW
2,021 posts, read 1,521,090 times
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Originally Posted by mathjak107 View Post
think about the fact a pencil cost 1 days wages back in the early days ,today a few minutes of work . a bicycle about a weeks wage .

think about the fact in the 1800's one ounce of gold bought a good mans suit and a pair of shoes. know what one ounce buys today? a good mans suit and a pair of shoes.
My parents bought me my first bicycle in 1971 at the Coast to Coast hardware store and it cost $50, which was probably just about the weeks wage you spoke of.
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Old 05-20-2014, 02:23 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,772 posts, read 54,408,375 times
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Quote:
Originally Posted by Robyn55 View Post
I think if someone keeps honest records about the total costs of owning - especially over a period of many years/decades - it's hard to make money for the most part. Some areas - like where my father's old house is (where the land value is huge because of the boating access) - are the exception - not the general rule. Robyn
It was hard for people in the 80s to guess which affordable areas would become the most demanded in the future, where the major employers would locate and where the best schools would be. Wherever your home is, there are going to be the ongoing costs of repairs, maintenance and renovations. Property taxes are included in rent so everyone pays that. When you add up all of the money spent on the home over 20-30 years it can often exceed the ultimate sale price, but for many areas you will still exit with enough to pay cash for a home in a less expensive area, because all that money you spent already, and now you have a home ready to sell for $700k and you only owe $150k or perhaps the mortgage is paid off. In our area, many of use close to retirement have chosen to stay where we are until then, and our values have come back to what they were before the crash.
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