Tuesday, August 21, 2007

New Houses: 1956 vs. 1996

Chart above is from the Dallas Federal Reserve.

Notice that only 72% of new homes in 1956 had only 1 bathroom, only half of new homes had a garage, only 6% had central air, only 11% had dishwashers, the average house was 70% smaller than in 1996, and houses in 1956 cost more (measured in hours of work at the average wage per square foot) than in 1996.

I don't think most people today would be willing to trade their current home for their grandparents' homes. The good old days are now, and they keep getting better.


At 8/21/2007 3:42 PM, Anonymous Anonymous said...

Only 18% of homes in 1996 were equipped with refrigerators? Could this be an error?

At 8/21/2007 3:50 PM, Blogger Mark J. Perry said...

I questioned this too. The figure might be for the percent of new homes with a refrigerator included in the price?

At 8/21/2007 4:41 PM, Anonymous Anonymous said...

Factor in energy efficient HVAC units, non-lead-based paint, better materials, etc., and today's houses are even better.

Don't forget those half-baths...72% had less than 2 bathrooms, but surely many had an extra "toilet" room.



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