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Political Discussion
Reply to "Was there ever a time when your average nine to fiver could afford the American Dream?"
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[quote=Anonymous][quote=Anonymous]My family bought a five bedroom house in 1964 in Springfield,VA for under $25,000. Sold the house ten years later and bought a house in McLean for $37,500.[/quote] The price of essentials...shelter, education, healthcare and childcare have exploded. Harvard cost $800/year tuition in 1955 and is $54,000 today. UC schools were all free in-state until the 1960s (and are still a tremendous deal compared to many other state schools like UVA). Heck, Sidwell used to cost $4,500 / year back in the 1990s and now is around $52k. Housing costs have increased far more than overall inflation. Now, a bunch of that is related to the zero-interest environment we had from 2008 - 2022. The acceleration really started in the late 1990s. The average DC daycare cost is now $24,400/year for one year for one kid. [/quote]
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