Question

In 1950 there were 1.95 million housing starts in the United States. Are there more or fewer housing starts projected for the year 2000? New home prices for the year 2000 are projected to be an average of $200,000. What was the average price in 1950?

Answer

About 410,000 fewer housing starts are projected for the year 2000. This is about 25 percent less than in 1950, when the cost of an average house was $11,000.

In 1950, in the United States, the average house was about 1000 square feet (93 square meters). This is about half the size of today's average house.