How was the middle class in America in 1955?

Question

60% Of america's middle class earned between 5,000 and 10,000$ a year. what was the impact?

Answer 1

The impact of what?

We can compare houses - but not directly. The housing stock has changed substantially - a 1955 middle class home had two bedrooms, 1 bathroom, a gas-powered fridge (or an icebox) no central heat/ac and sat on 1/4-acre of land. In the summer, people would sleep outside to avoid the nighttime heat. A 2008 middle class home has 3 bed, 2 bath, gas stove, electric fridge and washer/dryer, central heat/ac. Costs and quality change profoundly.

A 1955 Buick would get maybe 15 miles to the gallon. A 2008 Yaris will get 35 and has AC, ABS, CD/MP3 player.

You could compare food costs - these have certainly gone up. But the population has also gotten much larger, and incomes have increased as well.

So what are you trying to gauge the impact of?

Answer 2

You could afford a 1 Income household with 2 children. Today you need 2 incomes to afford a bargin basement living standard.