Originally Posted by
nlerner
Uh, I'm not a mathematician, but I'll guess that depends on one's pay rate!
Good point. I found a
census report of family income in 1952. Based on the distribution of income in the chart on page 1, median family income seems to be between $4,000 and $5,000. I assume this is gross income. Let's say to have $68.50 in hand, you had to earn $95.90. I'm assuming 40% of your money went to taxes, though that could be off. $4,500 gross annually works out to $86 per week, so it's more than a week's gross pay for a family earning the median income to buy that bike.
Today's median income is around $50,000, I think. A week's gross pay is 961. After 40% taxes (though it's really closer to 50% when you consider excise taxes, etc.), you have $686. Hmm, maybe bikes haven't gotten more expensive or cheaper. That's about the price for a bike that will last a lifetime.