is that wages back then were just under 1/4th of now.
It took 714 oz to buy a house but we earned roughly 302 oz per year.
This means we worked for 2.3 years to pay the principle off.
It takes 174 oz to buy a house but we earn roughly 27 oz per year.
This means we now work for 6.4 years to pay the principle off.
This probably is a main reason it takes two incomes now to buy a house while making ends meet. Any way you look at it, our labor has been stolen.
Other 1971 events I ran across:
Average Income per year $10,600.00
Average Monthly Rent $150.00
Cost of a gallon of Gas 40 cents
Datsun 1200 Sports Coupe $1,866.00
United States postage Stamp 8 cents
Ladies 2 piece knit suites $9.98
Movie Ticket $1.50
U.S. Sylmar earthquake hits the San Fernando Valley area of California. (I remember getting tossed across my bedroom as if it was yesterday!)
Peru Peru Earthquake results in the destruction of the town of Chungar, Peru, and the death of most of the towns people
UK Decimalisation in United Kingdom and Ireland both switch to decimal currency.
UK Education Secretary Margaret Thatcher's ( "Thatcher The Milk Snatcher". ) ends free school milk for children over the age of seven in the UK
UK IRA Bomb Post Office Tower in London
U.S. The Voting Age in the United States is lowered to 18 yrs old when the 26th Amendment to the US constition is ratified
U.S. Harris public opinion poll claims that 60% of Americans are against the war in Vietnam
India Tsunami in the Bay of Bengal in Orissa State in India kills 10,000.
U.S. The Walt Disney World Resort opens in Florida on October 21st
World Greenpeace formally comes into existence.
U.S. Federal Express is started by Fred Smith
UK Thousands protest against the British government's new industrial relations Bill.
Australia Australia and New Zealand Announce Pull Out Of Troops from Vietnam
U.S. Cigarette Advertising Ended on Television in USA
Scotland A fatal stampede at Glasgow Soccer Game
U.S. In an attempt to control inflation President Richard M. Nixon implements 90 day freeze on wages and prices, he also removed the gold/silver backing from the US Dollar
Uganda Major General Idi Amin takes control of Uganda soon to become one of the worst and most notorious dictators of modern times
UK Following Public Concern Over Immigration in the UK, a new Immigration Bill stops Commonwealth citizens automatic entry
U.S. Following on from the Public Broadcasting Act of 1967, National Public Radio (NPR) broadcasts for the first time in April 1971
Northern Ireland Problems in Northern Ireland continue as rioting increases as part of the IRA campaign to end British Government Rule.
U.S. The New York Times begins to publish sections of the Pentagon Papers showing the US Government had been lying to the American People.
Quatar Qatar Gains Independence From Great Britain
Sierra Leone Sierra Leone Gains Independence From Great Britain
U.S. Charles Manson and three of his followers receive the death penalty
The world lost Jim Morrison but got Led Zepplin IV, Love Story, Lance Armstrong, Mariah and Tupac. We were also first introduced to microprocessors, email, chat rooms, floppy disks, pocket calculators, LCDs, CAT scans and Kevlar.
All I know is that I sure wasn't paying as much attention then (age 6) as I do now!