As others have stated there are many variables as far as what goes into a good standard of living. In the greater Rochester, NY area 40,000 dollars would make for a good salary even for a skilled laborer. The last factory job I worked almost ten years ago started pay at 10.50/ hr and maxed out at 13/ hr with overtime being available if you were willing to work in certain parts of the plant. The jobs are nearly gone here that paid 15 to 20 dollars per hour or more. Even when I was in college 30 years ago those jobs although more plentiful were extremely hard to get into never mind not being connected to anybody on the inside of a company. Homes reflect the ability of the average worker's ability to pay for living space. Decent homes can be bought here for around 70,000 dollars as most jobs fall in the 10 dollar per hour range. If you are willing to commute an hour you can find something good for less. With the exodus of good paying jobs home values here can only head down over time. The only thing decelerating the decline is generous terms by the banks. If a drastic change in lending practices takes place (more drastic than what we saw a few years ago) I would expect a rapid decline in home values.
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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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