Updated over 7 years ago on . Most recent reply
Price difference between 1954 and 2018
#2 Contractors Contributor
- Severna Park, MD
I bought a nice little 2/1 about a month and a half ago . Just finished it up today . I grabbed a bunch of papers left in a drawer in the kitchen. In it was the original bill of sale for the house from 1954 . With extras the original owner paid the hefty sum of ..........$ 6840.00 . Six thousand eight hundred and forty dollars.
Fast forward 64 years and I paid $ 160,000 .
$6,800.00 in 1954 had the same buying power as $62,318.33 in 2018
https://www.dollartimes.com/inflation/inflation.php?amount=6800&year=1954
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Bob B. You just criticized Omar Khan for playing the “what if” game then you immediately started playing the “what if” game with an optimal real estate scenario. I wonder how the 1954 buyers of inner city luxury houses have made out in Detroit and Cleveland when adjusted for inflation.