Young people becoming less happy than older generations, research shows

[Nanjeanne]

20. Who can blame them? They face a Mad Max world - climate change destruction; rising health insurance costs (not care);

unaffordable houses; rental market unattainable; food insecurity; dollar buys next to nothing now. It's bleak.

According to CPI Inflation Calculator:

$100 in 2023 is equivalent in purchasing power to about $7.91 in 1950, an increase of $-92.09 over 73 years. The dollar had an average inflation rate of 3.54% per year between 1950 and 2023, producing a cumulative price increase of -92.09%.

This means that prices in 1950 are 92.09% lower than average prices since 2023, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1950 was 1.26%. The inflation rate in 2023 was 4.12%. The 2023 inflation rate is higher compared to the average inflation rate of 1.85% per year between 2023 and 2024.

https://www.officialdata.org/2023-dollars-in-1950]

The median home price in the United States in 1950 was $7,354, a stark contrast to the median price of $431,000 in 2023 (Source: U.S. Census Bureau). This significant difference, even when adjusted for inflation, translates to a 2023 median price of around $89,300 for a 1950s home.