New construction house in 1969; all in for $20k. $1,000 down and $180/month payment. Never forget what was stolen from us.
byu/Boo_Randy_II inHouseBuyers
Outside of affordable housing back then, businesses were also more affordable to start. Ben and Jerry’s started an ice cream empire for $12,000, which got them a building, plus all the equipment and materials they needed. Fast forward to today and the majority of businesses are started with owner financing of $2-8k, which doesn’t buy much of anything. If you were to adjust for inflation, that 12k is is roughly equivalent to $50k in today’s money. You can’t even buy a building for 50k! Most commercial properties are typically in six figures.
There’s way more going on here than just inflation.
h/t reedthemanuel