ConsumerAffairs Research Team analyzed key cost metrics — including housing, college tuition, gas and income — to reveal how the cost of living has changed since the 1970s.
KEY INSIGHTS
People today have about 63% more purchasing power than they did in 1973. However, the cost of necessities — such as housing and education — has skyrocketed over that time.
Home prices have risen about 1,045% since 1973.
The cost of public and private school tuition has increased by 177% and 158%, respectively, since the 1970s.
Unlike most other expenses adjusted for inflation, gas prices have actually decreased by 9% since 1973.
KEY INSIGHTS
People today have about 63% more purchasing power than they did in 1973. However, the cost of necessities — such as housing and education — has skyrocketed over that time.
Home prices have risen about 1,045% since 1973.
The cost of public and private school tuition has increased by 177% and 158%, respectively, since the 1970s.
Unlike most other expenses adjusted for inflation, gas prices have actually decreased by 9% since 1973.
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