Quote:
Originally Posted by il Padrino Ute
No, they weren't. But this was in 1975.
My parent's first home, which the bought in 1961, was a 1600 sf place that cost $14,000. The mortgage payment was $175. They had to sacrifice in order to pay for it, because they were making close to $7,000 combined.
If you feel I was being critical of your Dad and you, I apologize, because I wasn't. I was just trying to point out the relevance of a salary in a different time period. In the mid-70s, $25,000 could provide a comfortable living for a family.
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I'm not being critical. I am merely pointing out that the house they bought was only double their income (how many people can say that today).
The house my parents bought was two and a half times their income and was less square footage than your parents (<1200), in a small town.
So that amount of money could have very well been more money than my parents.
My parents certainly weren't rich, but what if your parents had lost that $7000 in income and took a dramatic dip. Hard times.