32,424.83 in today's dollars for a respectable, quality 8 room house.
Sure it doesn't include land or labour but there's no way an 8 room house costs 32k today.
Today that would buy you a Tiny House on the low end of that market.
In my opinion, and I know we are far richer than our great-grandparents, but anybody arguing we're quantitatively richer than our parents has a long row to hoe. If this is progress it sure is lumpy. As Peter Thiel says the most likely explanation is we've had an nearly completely unacknowledged (by Western intelligentsia) stagnation technologically.
This would have been about 1920 when the Sears kit houses were invented.
Look at this: http://eastsidehill.com/news/wp-content/uploads/2010/04/1927...
The inflation calculator here:
32,424.83 in today's dollars for a respectable, quality 8 room house.
Sure it doesn't include land or labour but there's no way an 8 room house costs 32k today.
Today that would buy you a Tiny House on the low end of that market.
In my opinion, and I know we are far richer than our great-grandparents, but anybody arguing we're quantitatively richer than our parents has a long row to hoe. If this is progress it sure is lumpy. As Peter Thiel says the most likely explanation is we've had an nearly completely unacknowledged (by Western intelligentsia) stagnation technologically.