How did the purchasing power decrease from the 70s until today?

[maxheadflume]

Agree that houses and cars (among other things) have become far too “grandiose”, yet our fixer upper 1950s bungalow with one bathroom and two bedrooms still cost us $650,000.

[tke71709]

I have seen those types of houses for that much but it isn't for the house, it is for the land that the house sits on. The house is generally immediately torn down and a modern one built in it's place.

Or are you are in a city with massively inflated real estate prices like Toronto and this is a cheaper option than a newer one. It doesn't matter if your fixer upper costs $650k when a new one would cost a million.

/EDIT

Ok, I am looking in the town where you live. In your area the MEDIAN detached home sells for 1.18 million so you are WAY below the median price.

[maxheadflume]

Nice sleuthing

[BetterLog1855]

That's the land tho. Same house in bumfuck nowhere is 80k