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WHOA! They actually SAVED THIS!

by seasoned
15 replies
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NO PARTISAN BICKERING! NO DISPUTES! NO DOUBTS! Just LOOK!!!!!!!!!!

http://www.irs.gov/pub/irs-utl/1913.pdf

It is from the IRS! How much more authoritative could it be?

$3ooo back then was a FORTUNE! IMAGINE how much inflation has occurred, and how cheap many things were even 40 years ago. A bit over 30 years ago, my mother could have bought a home for $20K. TODAY, it costs vlose to a million! In the 1930s, some homes sold for about $3K! Back then, the per capita income was about $3K. And the form linked above was 20 years BEFORE THAT!

IMAGINE! You earn $19999, and pay NOTHING! over SIX times the national average! You earn $20000, and pay only $200! You earn $500,001 and pay LESS than $30,000. So how much was $500,000 wort back then? MAN, they were SET FOR LIFE! A LIFE OF LUXURY! But say that it were only worth $500K TODAY! How much is $500K worth TODAY? You could buy two nice middle class homes in a nice area for CASH! You could buy a couple mid range rolls royces, last I knew. You could buy almost 20 nice rolex presidente gold watches, last I knew. But $500K back then was worth SO much more!

Steve
  • Profile picture of the author MoneyMagnetMagnate
    Actually, in 1913, I think you could get a pretty nice house built for that 3000 dollars

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  • Profile picture of the author seasoned
    MMM, Yeah, I slipped up. I knew they were so cheap, and I should have said LESS THAN! But HEY, that amplifies my point! In 1913 for the TEMPORARY tax they charged only the very rich, and charged a paltry sum.

    Steve
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  • Profile picture of the author KimW
    Well, That is actually the price for a house kit,you had to have it put together.
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    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      Well, That is actually the price for a house kit,you had to have it put together.
      Read the fine print in the first paragraph! Totally built, labor included, it says it will cost less than $2000! You have about enough left to buy a big farm to put the home on! For $2000!!!!!!

      Steve
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  • Profile picture of the author KimW
    Damn Steve, my eyes aren't good enough to read the fine print.
    I have to admit, I just read the first sentences where it said they would ship you the parts.

    I was actually scheduled to have a shot in my eye on January 16th of this year (the dr thinks that will fix my vision,or at least make it better,he already gave me a shot in the other eye) but on January 11th I got the call for the transplant.

    Now the transplant Drs say I can't go have my eyes checked till after 6 months because they say the meds I take every day now may alter my vison yet again so they want to make sure things are stabilized before I go back to the eye dr.
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    • Profile picture of the author ThomM
      The first house I bought was in 1970. It was 2 bedrooms, living room, dining room, kitchen and bath all with hardwood floors and hardwood trim. It also had a full basement with a concrete floor and a full attic. Did I mention the 1 car detached garage? No?
      O.K. it also had a 1 car detached garage. We paid $11,300 for it with 10% down and a 30 year mortgage with payments somewhere around $25 a month.
      We sold it 5 years later to our next door neighbor for what we paid for it.
      He turned around and sold it 15 years later for close to $100,000
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      • Profile picture of the author Bill Farnham
        I read an article the other day that showed we are below 50% nationally in real terms of what folks were earning in 1973.

        Back then a single wage earner could provide for a whole family. I know was.

        My, how times have changed...
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        • Profile picture of the author ThomM
          Originally Posted by Bill Farnham View Post

          I read an article the other day that showed we are below 50% nationally in real terms of what folks were earning in 1973.

          Back then a single wage earner could provide for a whole family. I know was.

          My, how times have changed...
          Bill in 1970 I was supporting myself, my wife, and my new born daughter on $100 a week. After budgeting all our bills, mortgage payment, food, and gas for the week we still had $10 left to have fun with.
          I also owned two cars and a motorcycle.
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          Getting old ain't for sissy's
          As you are I was, as I am you will be
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    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      Damn Steve, my eyes aren't good enough to read the fine print.
      I have to admit, I just read the first sentences where it said they would ship you the parts.

      I was actually scheduled to have a shot in my eye on January 16th of this year (the dr thinks that will fix my vision,or at least make it better,he already gave me a shot in the other eye) but on January 11th I got the call for the transplant.

      Now the transplant Drs say I can't go have my eyes checked till after 6 months because they say the meds I take every day now may alter my vison yet again so they want to make sure things are stabilized before I go back to the eye dr.
      I feel your pain! Some DENTISTS won't even CLEAN MY TEETH after I started the warfarin!

      Steve
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      • Profile picture of the author KimW
        Originally Posted by seasoned View Post

        I feel your pain! Some DENTISTS won't even CLEAN MY TEETH after I started the warfarin!

        Steve
        That is very easy to believe. I hate having to take wararin. I had just made it to the point where I had to go to the transplant unit once every two weeks instead of once a week,then I got put on warfarin and now I have to go to my primary care once a week to get my warfarin levels checked. Some days you just cant win.
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  • Profile picture of the author KimW
    Thom,
    I bought my first house nine years after you. It was very similar to your but no basement or garage. Basically a small kitchen,a small living room , 1 bathroom and 2 bedrooms downstairs. The upstairs was a partially finished attic. It did have a small built in pool in the backyard though. Unlike you, I was single. I paid $1000 down,the house itself cost 25K and my monthly payment was about $325.
    At the time I was the office manager/dispatcher for a waste removal company and probably making about $400 a week.Not bad for single guy of 25.
    I sold it in 1997 for about $75K. Worst decision I ever made. Last time we checked it was valued at about a little less than $250K just because it is in the Wash DC area.
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    • Profile picture of the author ThomM
      Originally Posted by KimW View Post

      Thom,
      I bought my first house nine years after you. It was very similar to your but no basement or garage. Basically a small kitchen,a small living room , 1 bathroom and 2 bedrooms downstairs. The upstairs was a partially finished attic. It did have a small built in pool in the backyard though. Unlike you, I was single. I paid $1000 down,the house itself cost 25K and my monthly payment was about $325.
      At the time I was the office manager/dispatcher for a waste removal company and probably making about $400 a week.Not bad for single guy of 25.
      I sold it in 1997 for about $75K. Worst decision I ever made. Last time we checked it was valued at about a little less than $250K just because it is in the Wash DC area.
      Crazy ain't it?
      The house I'm in now my father bought in 1930 for $3,000.
      It's a two story farm house on a half acre.
      When I had to take a mortgage out on it in 2002 it was appraised at $100,000. That was with the old plaster walls which either the plaster was falling off or duct tape and 40 year old wallpaper was holding it in place.
      The appraiser was afraid to go into the basement and just took my word on the furnace, wiring, and circuit box
      Signature

      Life: Nature's way of keeping meat fresh
      Getting old ain't for sissy's
      As you are I was, as I am you will be
      You can't fix stupid, but you can always out smart it.

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    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      Thom,
      I bought my first house nine years after you. It was very similar to your but no basement or garage. Basically a small kitchen,a small living room , 1 bathroom and 2 bedrooms downstairs. The upstairs was a partially finished attic. It did have a small built in pool in the backyard though. Unlike you, I was single. I paid $1000 down,the house itself cost 25K and my monthly payment was about $325.
      At the time I was the office manager/dispatcher for a waste removal company and probably making about $400 a week.Not bad for single guy of 25.
      I sold it in 1997 for about $75K. Worst decision I ever made. Last time we checked it was valued at about a little less than $250K just because it is in the Wash DC area.
      OH MAN! I once worked in Washington DC. EVERY YEAR a guy told me how his home DOUBLED in cost over the previous year! A coworker actually offered about $20K OVER the asking price for a lousy condo in a bad part of town! WHY? Because it was like across the street from a train station, and EVERYONE wanted it!

      Steve
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  • Profile picture of the author Sumit Menon
    Here's a question: Has the value of real estate ever gone down? I mean, apart from the bubble bursting every now and then. Has real estate lost value and stayed there for, I don't know, 10-15 years?

    And you guys are OOOOLLLLLLDDD!
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    • Profile picture of the author seasoned
      Originally Posted by Sumit Menon View Post

      Here's a question: Has the value of real estate ever gone down? I mean, apart from the bubble bursting every now and then. Has real estate lost value and stayed there for, I don't know, 10-15 years?

      And you guys are OOOOLLLLLLDDD!
      It's hard to say! Let's index this to gold... TODAY'S prices!

      Average home? Let's say about $300,000. GOLD 1643.45 Indexed to gold: 182.54 Price of home THEN? $3000 Let's say gold was $35. I think it was LOWER. 85.71 So the cost of a home more than doubled. Of course, the average home now is a bit bigger, etc... So maybe they are about the same price.

      Steve
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