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The most expensive home on the market in my town...
invite response
2011 Aug 25, 3:40am 1,439 views 3 comments
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The thing to remember is that in 1963, 50k for a house was A LOT of money for back then. The average income back then was $6,000 a year with a median home price of around $16,000. A 50k house in those days meant you were probably doing extremely well. The house my parents live in now in NC they bought in 1970. Its 2 stories on about 14 acres of land. The house and the land in 1970 was 20k- or less than half that of the 50k house your folks bought in 1963. A 50k house in 1963 might as well have been a 600k house today.
PasadenaNative
2011 Aug 25, 4:20am
The thing to remember is that in 1963, 50k for a house was A LOT of money for back then. The average income back then was $6,000 a year with a median home price of around $16,000. A 50k house in those days meant you were probably doing extremely well. The house my parents live in now in NC they bought in 1970. Its 2 stories on about 14 acres of land. The house and the land in 1970 was 20k- or less than half that of the 50k house your folks bought in 1963. A 50k house in 1963 might as well have been a 600k house today.
Good point. My dad was a pharmacist and mom stayed home. We sold the house in 1976, too expensive to keep up!
Amazing price. I grew up right around the corner from this property in the late 1960s. There is also a huge mansion on the parcel, behind this smaller house. We had a four bedroom that my dad paid about $50K for in '63. My have things changed!
http://www.redfin.com/CA/South-Pasadena/543-Columbia-St-91030/home/7006258