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Questions and Answers
During the 1950s, what was the average cost of a new car in the United States?
During the 1950s, what was the average cost of a new car in the United States?
- $1,400
- $2,900
- $2,000 (correct)
- $7,400
What was the median household income in the United States during the 1950s?
What was the median household income in the United States during the 1950s?
- $2,000
- $7,400
- $2,900 (correct)
- $1,400
Why didn't people pay off their homes quickly during the 1950s?
Why didn't people pay off their homes quickly during the 1950s?
- Expensive housing
- Lack of extra income
- Low interest rates (correct)
- High interest rates
What percentage of the average household income did an average house cost in the 1950s?
What percentage of the average household income did an average house cost in the 1950s?
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What caused people to move out of the cities and into the suburbs during the 1950s?
What caused people to move out of the cities and into the suburbs during the 1950s?
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Study Notes
1950s Economy and Housing
- Average cost of a new car in the United States during the 1950s: around $1,500 - $3,000
Household Income and Housing
- Median household income in the United States during the 1950s: around $3,300 - $4,300 per year
- Reason for not paying off homes quickly during the 1950s: low income and high mortgage payments
- Average house cost in the 1950s: around 2-3 times the median household income
Suburbanization
- Cause of people moving out of cities and into suburbs during the 1950s: pursuit of better living conditions, and the development of highways and low-cost housing
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