1950-1960
This decade also saw a growth in median home prices, from $7,354 in 1950 to $11,900 in 1960. The average inflation rate also rose from 1.1% to 1.5% by the end of the decade.
The 1950s also benefited from the postwar expansion. We reached nearly full employment until the end of the Korean War in 1953. In 1950 we were sitting on a 5.3% unemployment rate, and we only saw a minuscule increase to 5.5% by 1960.
At the end of 1949, the Dow Jones was at 200.52. In just 10 years, it rose to 679.36. The median income rose from $3,319 to $5,620. All in all, the 50s were seen as some of the happiest years in modern American history. Wages grew thanks to a constant demand for American goods in Europe, which further facilitated the affordability of housing prices.
Despite all this, let’s not forget that black Americans were still kept at arm’s length from all this growth due to segregation and Jim Crow laws.
By far, the worst time period was between 1957 and 1958, but overall, from an economic standpoint, it wasn’t all that bad!
