I've been reading about the cost of housing vs wages for different generations: Boomers vs Gen X and Millennials. So I asked my mother how much she and my Dad bought their homes for. I was really shocked.
1st home – 1971 – $40,000.00
3 bedroom, carport, single family home, single story, decent yard, nice suburban neighborhood
2nd home – 1973 – $43,000.00
3 bedroom, carport, single family home, single story, bigger yard, nicer neighborhood
3rd home – 1975 – $60,000.00
3 bedroom, 2 car garage, single family home, two story , much bigger yard, brand new construction, much nicer and larger bedrooms and dining and living room and den
4th home – 1991 – 120,000
3 bedroom, 1 car garage, 3 story, same sq feet as 3rd home different layout.
My mother never worked during this period. They got by on my dad's income. They only rented the first 4 years of their marriage.