Is Life Really Getting More Expensive? - United Texas CU

If you feel like the middle-class squeeze is getting tighter each year, you’re not alone. The numbers don’t lie: life really is a lot more expensive than it used to be.Let’s take a look at what life costs like now compared to 20, 50, and 80 years ago.HousingOwning a home is integral to the Great American Dream. But with today’s cost of living, the dream of buying a house is becoming more distant for many median-income families.Consider these increases in the median price of a home over the years:1940: $2,9381970: $23,6002000: $119,6002018: $368,500The rise in home prices has been meteoric. Adjusted for inflation, the median home price in 1940 would be approximately $40,000 in 2018 dollars.In short, you need a lot more money today to buy a home than you previously did. The average home buyer in 2018 was 44, compared to the average home buyer in 1981, who was 25-34.Consumer pricesThe price of everything, from a sack of flour to a winter coat, keeps climbing every year. Since 1970, the Co...