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From 11,100 Hours of Work in 1970 to Afford a New Home to 51,000 Hours in 2023 – Or How the Current Debt-Based System Enslaves You.

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From 11,100 Hours of Work in 1970 to Afford a New Home to 51,000 Hours in 2023 – Or How the Current Debt-Based System Enslaves You.

It's time to start looking for a system that protects you. It starts with a B.

Sylvain Saurel
May 19, 2023
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From 11,100 Hours of Work in 1970 to Afford a New Home to 51,000 Hours in 2023 – Or How the Current Debt-Based System Enslaves You.

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While browsing the Web, I just came across this infographic summarizing the cost of several goods and products in 1970 in America:

CDN media

Cost of Living in 1970:

  • New House - $23,450

  • Average Income - $9,400

  • New Car - $3,450

  • Minimum Wage - $2.10/hour

  • Movie Ticket - $1.55

  • Gasoline - 36 cents/gallon

  • Postage Stamp - 6 cents

  • Sugar - 39 cents/5 lbs

  • Milk - 62 cents/gallon

  • Coffee - $1.90/pound

  • Eggs - 59 cents/dozen

  • Bread - 25 cents

Today, at the current minimum wage, it would take 51,000 hours of work to afford a new home.

In 1970, it would have taken about 11,100 hours.

You might ask: what has happened since 1970 to make things go so wrong for consumers?

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© 2023 Sylvain Saurel
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