Post War ’40s

Published on August 5, 2008 By stevendedalus In Politics

In the post war ’40s millions became homeowners—courtesy of the G.I. Bill, requiring merely nominal closing costs, insurance and decent wages of the male breadwinner. [To be honest, I’m not sure those who served in women’s reserve were eligible.]

The government guaranteed $4,000 of the loan which actually in most cases exceeded 50% of the loan as the average home was priced at $6500-7500—in addition interest was 4½% —resulting in a housing boom.

Along with that, since labor was in demand jobs were secure and promised upward mobility, not to mention abundance of overtime. [Blacks, however, with arrant discrimination still the rule, were shutout.]

The vast majority had been city-dwellers and close to their jobs. Others were already suburbanites renting homes that they soon negotiated to own. Commuting was no a problem because in metropolitan areas subway and bus fare was still at a nickel. Those with prewar cars, with cost of gasoline between 15-20 cents a gallon braved the rush hour traffic. The average grocery bill was between 15 and 20 dollars a week for a family of three or four, and though the budget was tight for the average weekly family income of $45-50, there was plenty of overtime and second jobs.

No, not idyllic, for it was a struggling economic society, but it was a happy time because the mindset of living beyond one’s means was still a ghost of the future.

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Comments

feisty_in_ohio

on Aug 05, 2008

Women were eligible

stevendedalus

on Aug 06, 2008

Women were eligible

Thanks for the input; I just never heard of a woman obtaining one--actually it never entered my mind in the male chauvinism days.

Dr Guy

on Aug 06, 2008

No, not idyllic, for it was a struggling economic society, but it was a happy time because the mindset of living beyond one’s means was still a ghost of the future.

Mass commercialism had not taken hold. The TV was still a novelty, and radio was just for after dinner.

Dont get me wrong, I am not blaming Advertisers. If not them, someone else would be doing it. But I think you succintly captured the difference between the Post war 40s, and 50s, and the later decades. Living beyond one's means. And that is because people see and want. But they do not want to wait for it either.

stevendedalus

on Aug 07, 2008

Mass commercialism had not taken hold. The TV was still a novelty, and radio was just for after dinner.

Not to mention the universal credit card.

Dr Guy

on Aug 07, 2008

Not to mention the universal credit card.

You got one? I want one!

Nitro Cruiser

on Aug 07, 2008

Most of the world outside the world was ravaged by the war. The US economy was intact. Everything we made was in demand by the rest of the world. Today, many of the countries that benefited from the US economy (and charitable nature) produce those produces cheaper and sell them back to us. Perhaps we should have just planted the US flag in every land we touched and be what many living today in the US call us anyway, imperialists.

stevendedalus

on Aug 08, 2008

Most of the world outside the world was ravaged by the war. The US economy was intact.

Yes, we were indeed fortunate.

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