Aaron Freeman / Money Talks News
When I was born back in 1955, the median house price was around $11,000. Today, it’s about $330,000. When I got my learner’s license in 1970, the median price of a new car was $3,500. Today? $41,000. When my father was born, the average annual household income was $3,300. Today it’s about $70,000. These are all examples of inflation — the erosion of the purchasing power of the dollar.
