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Entry Submitted by Hedy Vann at 4:37 AM ET on August 1, 2024
- Re: “Soon we will be going back to 1955 prices: The value of $8,000 in 1955 was approximately equivalent to $85,896.23 in today’s money, adjusted for inflation.
For anyone interested, I can believe the statement above. We bought a new home in 1956 in Sacramento, California and paid $13,000.00 for it. Three bedrooms and one bath, 1/3 of an acre of land. Lived in it for 30 years, made some modifications along the way. Sold it to my son in 1988 for $85,000.00. He sold it in 2002 for over $400,000.00 and on the market now for over $500,000.00. 1955 prices sound really good. But of course if prices go down, so do wages. Keep that in mind young people. $15.00 an hour working at McDonalds will go away.
Hedy Vann (USA)
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