Florida housing prices 1955
Feb 7, 2023 13:15:01 #
Feb 7, 2023 13:17:29 #
Feb 7, 2023 13:19:48 #
pmsc70d wrote:
I doubt that those are even still standing.
Probably blew away when hurricanes hit!Feb 7, 2023 13:57:28 #
LOTS of these houses are still standing... Solid concrete block construction. I live in St. Petersburg for 48 years. Just don't ask what the current selling prices are.
Feb 7, 2023 15:44:38 #
MrBob wrote:
LOTS of these houses are still standing... Solid concrete block construction. I live in St. Petersburg for 48 years. Just don't ask what the current selling prices are.
Feb 7, 2023 20:53:10 #
When I first started looking for a house they were in the $5K-8K range, interest rate about 5%. When I finally found one it was $30K, interest rate 8.5%. My second house, $95K, interest rate 14.875%.
I'm looking for a house. Don't want to think about the interest rate.
I'm looking for a house. Don't want to think about the interest rate.
Feb 8, 2023 06:33:44 #
Feb 8, 2023 07:46:21 #
Feb 8, 2023 07:56:32 #
whfowle
Loc: Tampa first, now Albuquerque
I grrew up in Tampa in the 50's and early 60's. Those prices look familiar. For entertainment on Sunday afternoons, my parents used to go to the latest housing developments and we would look at the model homes. They looked almost the same as these pictures. However, the prices had gone up to low $17K to about $22K for the best models. I was astounded when I found out what my parents paid for the older home we lived in. It was about a late 20's early 30's home in a middle class neighborhood. On a 50x105 ft lot, a two bedroom, one bath with front porch, car port, a one bedroom bungelette in back with a two car garage. They bought it in 1935 for $3,500. Thirty year mortgage monthly was $21.00. They rented the bungelette for $25.00 which covered the mortgage.
Feb 8, 2023 08:13:05 #
To put things in perspective, in the early '50s, $5000 a year was a living wage. $5000 would buy a small house. So you could buy a house for one year's wages. When I finally bought a house it cost me 1.25 years wages. The second house I bought cost me 2 years wages. Being retired now, I don't get any wages so I guess I can't buy a house.
Feb 8, 2023 08:57:26 #
The median income in 1955 was $3,400 according to census.gov so presumably an accurate number. That puts them at 2.2 and 2.34 years income respectively. Monthly payments 28.25 and 29.5 hours work respectively, so roughly working until midday Thursday of the first work week to pay the monthly payment. Average car price was $2,166 or 0.64 years income. So for right at 3 years wages one could have a new car and new home in 1955.
In 2022 the average home price was $348,000 and the average new car price was $48,342 so rounded off $400k. Average income was $53,924 so a new car and new home in 2022 would be 7.4 years wages.
In 2022 the average home price was $348,000 and the average new car price was $48,342 so rounded off $400k. Average income was $53,924 so a new car and new home in 2022 would be 7.4 years wages.
Feb 8, 2023 09:40:36 #
Please note closing costs were $155-$165
Today an attorney wont answer the phone for $155
Today an attorney wont answer the phone for $155
Feb 8, 2023 09:51:33 #
pmsc70d wrote:
I doubt that those are even still standing.
Oh yes they are...built like tanks back then.
Feb 8, 2023 10:02:36 #
Now, the screened -in porch is about $25,000. No house. Just porch. In 1,000 years or so Florida will be a dive site so don't waste your money if you plan to live forever.
Feb 8, 2023 10:03:47 #
In 1952 a pipefitter's hourly wage was $2.50 per hour. When I retired in 2018 it was $84.50 per hour with benefits.
I worked in a factory in 1968 as a machine operator and made $2.40 per hour. One of the fellows would sell tickets for a chance to win his week's paycheck and he made more selling the tickets than he did pay for working 40 hours.
I worked in a factory in 1968 as a machine operator and made $2.40 per hour. One of the fellows would sell tickets for a chance to win his week's paycheck and he made more selling the tickets than he did pay for working 40 hours.
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