Back in the 1950 and 1960, the median home price was roughly just below TWO times the median household income – which was then predominantly ONE income.
Nowadays, the median home price is roughly THREE times the median household income – which is at least 1.5 full-time incomes, if not close to TWO incomes. In San Diego that ratio is probably even larger.
The full college tuition at Caltech (relative to the household income) then compared to now….
The cost of healthcare then compared to now….
Now most dual income households have parents that commute close to 1 hr each way. Add cost of gas, insurance and car maintenance. They have to put the kids in camps during vacations and in afterhours during school time. Translation – other expenses.
