What Made the Cost of Living Skyrocket in the Last 50 Years?

May 03, 2017

WRITER

In 1924, you could buy a new house for $7,720. In 1962, just shy of 40 years later, a new house was up to $12,000. However, just nine short years later in 1971, the cost of a new house doubled. Seven years later in 1978 it doubled again. By 1983, the average new house cost $82,000. Why did housing costs --- and other costs --- remain stable for decades then begin to skyrocket? What happened in the 1970s that caused an increase in the cost of living?

Listen to this segment beginning at mark 3:15 from The Glenn Beck Program:

PAT: Here's how crazy the housing market is in Texas. My daughter and son-in-law are about to buy a house. And they were looking at this beautiful house. I think it was $155,000. But it had a lot of upgrades. It was kind of small. Like 1800 square feet.

GLENN: I was going to say, in Texas, that's got to be a five-square-foot house.

PAT: But it's beautiful. With all the upgrades that you would expect in a house half a million dollars. So they went to look at it. Loved it. Put an offer in, at 165. Like 10,000 over. They didn't get the -- they didn't get the house. The bid that won was $175,000.

JEFFY: Wow.

PAT: 20,000 over.

GLENN: See, this is what makes me concerned --

STU: Buy high, sell low, right?

GLENN: No. That's the way I usually do it.

JEFFY: Yeah.

GLENN: Here's what makes me really concerned: You know, I live in a town that's in a higher tax bracket, and so there's some pretty spectacular houses. I'm telling you, houses that I thought were spectacular three years ago look like tiny houses.

JEFFY: Yeah.

GLENN: We went for a Sunday drive.

JEFFY: Yes. Yes.

GLENN: This last Sunday. And honestly, we saw three houses that we said, where the hell does that one stop? It doesn't stop.

JEFFY: It doesn't, Glenn. They don't.

GLENN: They don't.

JEFFY: They don't.

GLENN: I saw a house that just kept going and going. Honestly, we were driving down the street --

JEFFY: See, that's the downsizing I believe you're talking about. When you say, I want to sell my house and downsize, I look at those homes and go, that's the downsize --

GLENN: No. You know what, we have a house -- you know, our ranch is like 1800 square feet. We love it. We absolutely love it. Because the family is always together.

JEFFY: Yeah.

GLENN: I mean, it's not great when you're like, "Get out of my face." If somebody has -- is having a really bad day, not a good house. Not a good house. But when you're all getting along, that's -- I mean, that's just great. And we love being close together. And some of these houses that they're building now are so --

JEFFY: Oh, my gosh.

GLENN: -- huge. And, you know, you'll be like, oh, it's a family of three.

What? What do they each have 18,000 square feet? What -- I mean, what's in that house?

JEFFY: Yeah.

PAT: There's a house they've been building for like 18 years, I think. Because they just keep adding new sections to it.

JEFFY: Yeah.

PAT: That is fairly close to us. And you just think, what do you people do for a living? How big a house -- what is this, a Ronald McDonald House? How big does this clown need his house to be?

JEFFY: That's not the only one, man. That's not the --

GLENN: Okay. So I live down the street from one of the guys who is the chairman of the board of the train -- you know, one of the big trains. So, I mean, you know -- I mean, you know --

PAT: Are there big trains?

GLENN: Yeah. There are big trains.

PAT: That's still a thing?

JEFFY: Yes.

GLENN: A guy who is pulling down some coinage.

STU: Some cash. Yeah, a lot of shipping goes down --

GLENN: Yeah, a lot of -- a big shipping area here in the southwest. And he's like the president or chairman of the board or something. And he's got a large house.

JEFFY: Pretty nice place?

GLENN: A large house. We drive by and we're like, "Wow, that's a large house." You go, you know, six blocks away from him, and I'm telling you, you look at him and say, this must be where Jesus lives. Because I know this guy who I can't relate to on how much cash he's making, I know what his house looks like. Who lives here? The entire holy family? What is this house?

(chuckling)

PAT: I think Jesus has a smaller house.

STU: Why?

GLENN: Well, the camels. You have to keep camels. Sheep. You don't want the sheep and the camels mixing.

JEFFY: He only has half a basketball court. Not a full basketball court?

PAT: No, it's like that documentary Indiana Jones: The Last Crusade.

GLENN: Again, learn the difference between a movie and a documentary.

JEFFY: Right.

GLENN: May I go here?

Cost of living. How much did a house cost in 1924? A new car was $275.

PAT: Not very much.

Really.

JEFFY: Wow.

GLENN: $265.

PAT: Wow.

GLENN: Your average rent was $18 a month. And tuition to Harvard --

PAT: Eighteen!

GLENN: Tuition to Harvard for a full year was $250.

STU: Hmm.

GLENN: How much was a house?

PAT: 2,000.

JEFFY: Yeah. Got to be close --

GLENN: Okay. This shows you the run-up of the Roaring Twenties. A new house was $7,720.

PAT: Wow, that's --

JEFFY: Even with the Sears catalog.

GLENN: That's the average house. So now in 1938, how much was a new house?

PAT: During the Depression, probably considerably less.

GLENN: Harvard tuition had gone up to $420. A new car was $860. A new house, $3,900.

JEFFY: Wow.

Oh, yeah.

STU: Wow. Yeah.

GLENN: You go to 1943, it's $3,600.

PAT: Jeez.

GLENN: So you held on to your house -- you had to hold on to your house -- you couldn't sell --

PAT: You were taking too much of a loss.

GLENN: You were taking a bath.

You didn't get back up to a $9,000 until 1952. In '52, tuition to Harvard University was $600. A new car was $1,700.

Let me skip ahead here.

Let's go to -- let's go to 1962. A new house was $12,000. So you've got from 1924 to 1962.

JEFFY: Pretty stable.

GLENN: Pretty stable. Except for the depression where it went down, you've got gone from $7,000 to $12,000. Okay?

In 40 years.

PAT: Uh-huh.

GLENN: 1962, cost of a new house is $12,000. A new car is $2,900. Tuition to Harvard is 1500.

Now let's go to 1973. Let's go to 1970 -- let's go to 1971.

A new house has gone in nine years. A new house has gone from $12,000 to $25,000.

JEFFY: Yeah.

GLENN: Your car has gone to $3,500. And your Harvard tuition has gone to $2,600 a year. Okay?

From in 1927 -- or 1924, $250 a year to go to Harvard. To now in 1971, $2,600. Here's where it gets interesting. Remember, 1971, a house was $2,500. How much was a house in 1978?

PAT: If it acted the way it did during the depression, we were in a serious recession.

JEFFY: No way, though.

PAT: You would think maybe it went down again?

JEFFY: Because in '78 they were still -- they weren't building as much.

GLENN: Remember, double incomes. Double incomes had just started in the early '70s.

JEFFY: It was okay for mom to work.

GLENN: Yep. Yep. So your house went from, in '61 or '63, $12,000 to '71, $25,000.

PAT: So it doubled.

GLENN: To 1978, to$ 54,000.

PAT: Doubled again.

GLENN: Your cost in 1983 has gone to $82,000.

PAT: Wow.

GLENN: A new car is now $8,500. Ticket -- or, tuition to Harvard is now $8100. It had gone from $250 to $1,500 to now $8,000. What happened? The government started guaranteeing tuitions.

Then in 1999, a new house, $131,000. A new car, $21,000. And tuition to Harvard, $31,000 per year.

STU: Hmm.

PAT: And now it's, what? Sixty? Fifty or $60,000 a year?

GLENN: Yeah, I don't have anything past '99.

PAT: Wow.

STU: One of the things, if you remember, go back to the 2007 era, before the housing collapse happened, and you were making the arguments on the air all the time that this stuff was going to occur -- giving me some weird eye signals. I don't know what that means.

GLENN: No, I'm just listening.

STU: You're just pleased with yourself, I got it.

GLENN: No, no, I'm just listening to you.

STU: But one of the things you based that on was the Case-Shiller Index. It was one of the big pieces of data that you found to be incredibly problematic because it controls for things like inflation. These numbers obviously are partially inflation, partially the housing market going up. It's tough to break those things out.

GLENN: And now -- you can't look at anything like Case-Shiller. You can't look at anything anymore because nothing is real. Because the fed has dumped money. Because we have printed money.

STU: Uh-huh.

GLENN: You don't know -- is the stock market real? Is the housing price real? You don't know. Nothing is based on truly free market principles.

STU: Yeah. And I think, you know, there's a lot of complication there, which is what I think you're getting at.

GLENN: Yeah.

STU: But it's still an interesting thing to look at.

GLENN: It is. It is.

STU: So basically 100 is your average of the Case-Shiller Index for basically the entire time. So it ranged between 80 and 120 the entire time. Kind of just measuring how overinflated housing prices are.

GLENN: And 100 is -- I don't remember how it works.

STU: Normal. Let's say normal is 100. So it ranged between 80 and 120 --

GLENN: For how many years?

STU: -- from 1880 to 2000. Okay?

GLENN: 1880 to 2000.

STU: The only exception to that was the Great Depression, where it was a little bit under 80, but it was basically between there the entire time between 1880 and 2000.

PAT: And this is on the Kay Jewelers scale?

GLENN: No, this is Case-Shiller.

STU: Case-Shiller.

GLENN: Who have we talked on? We've had Shiller on?

STU: I can't remember which one it is.

GLENN: Yeah, we've had one of them on. Really, really bright. This is as scientific as you can get on housing.

STU: Yes.

PAT: Okay.

STU: Yes. So between 80 and 120, for 120 years, okay? The housing crisis peaks in 2005?

GLENN: Yeah.

STU: And it hits almost 200. So it's double normal.

PAT: Jeez.

STU: It had never even come close to that in its history. Then you have the housing collapse, right? We all remember the big inflation and the housing collapse. And finally we're getting back -- we're getting back. That's not the story the Case-Shiller Index tells at all. It went from -- about 120 at the beginning of the housing bubble, up to 200, and then it dropped. The bubble popped, and it came back to 120.

GLENN: Still the highest level --

STU: So it was still at the highest level it had been in 120 years, was the end of the crisis.

GLENN: Oh, my gosh.

PAT: Wow.

STU: It has now reached back up to 160.

PAT: Jeez.

GLENN: Oh, my gosh.

STU: From 120 to 160 again.

GLENN: And I tell you, the only place that -- the only place that to me makes any sense at all is Texas. Because the people are moving to -- the influx of people here is just outrageous. How fast it's growing.

JEFFY: You see the apartments they're building.

GLENN: Oh, and they pop up fast. And they're all sold. I mean, it's just so fast. Because people are moving here. Everywhere else, what is happening in your town that is causing this big bubble?

JEFFY: I didn't even see that mentioned in the Kay Jeweler Index.

GLENN: It's not Kay Jeweler.

PAT: I think that's why people go to Jared.

JEFFY: Right.

Are Gen Z's socialist sympathies a threat to America's future?

NurPhoto / Contributor | Getty Images

In a republic forged on the anvil of liberty and self-reliance, where generations have fought to preserve free markets against the siren song of tyranny, Gen Z's alarming embrace of socialism amid housing crises and economic despair has sparked urgent alarm. But in a recent poll, Glenn asked the tough questions: Where do Gen Z's socialist sympathies come from—and what does it mean for America's future? Glenn asked, and you answered—hundreds weighed in on this volatile mix of youthful frustration and ideological peril.

The results paint a stark picture of distrust in the system. A whopping 79% of you affirm that Gen Z's socialist sympathies stem from real economic gripes, like sky-high housing costs and a rigged game tilted toward the elite and corporations—defying the argument that it's just youthful naivety. Even more telling, 97% believe this trend arises from a glaring educational void on socialism's bloody historical track record, where failed regimes have crushed freedoms under the boot of big government. And 97% see these poll findings as a harbinger of deepening generational rifts, potentially fueling political chaos and authoritarian overreach if left unchecked.

Your verdict underscores a moral imperative: America's soul hangs on reclaiming timeless values like self-reliance and liberty. This feedback amplifies your concerns, sending a clear message to the powers that be.

Want to make your voice heard? Check out more polls HERE.

Without civic action, America faces collapse

JEFF KOWALSKY / Contributor | Getty Images

Every vote, jury duty, and act of engagement is civics in action, not theory. The republic survives only when citizens embrace responsibility.

I slept through high school civics class. I memorized the three branches of government, promptly forgot them, and never thought of that word again. Civics seemed abstract, disconnected from real life. And yet, it is critical to maintaining our republic.

Civics is not a class. It is a responsibility. A set of habits, disciplines, and values that make a country possible. Without it, no country survives.

We assume America will survive automatically, but every generation must learn to carry the weight of freedom.

Civics happens every time you speak freely, worship openly, question your government, serve on a jury, or cast a ballot. It’s not a theory or just another entry in a textbook. It’s action — the acts we perform every day to be a positive force in society.

Many of us recoil at “civic responsibility.” “I pay my taxes. I follow the law. I do my civic duty.” That’s not civics. That’s a scam, in my opinion.

Taking up the torch

The founders knew a republic could never run on autopilot. And yet, that’s exactly what we do now. We assume it will work, then complain when it doesn’t. Meanwhile, the people steering the country are driving it straight into a mountain — and they know it.

Our founders gave us tools: separation of powers, checks and balances, federalism, elections. But they also warned us: It won’t work unless we are educated, engaged, and moral.

Are we educated, engaged, and moral? Most Americans cannot even define a republic, never mind “keep one,” as Benjamin Franklin urged us to do after the Constitutional Convention.

We fought and died for the republic. Gaining it was the easy part. Keeping it is hard. And keeping it is done through civics.

Start small and local

In our homes, civics means teaching our children the Constitution, our history, and that liberty is not license — it is the space to do what is right. In our communities, civics means volunteering, showing up, knowing your sheriff, attending school board meetings, and understanding the laws you live under. When necessary, it means challenging them.

How involved are you in your local community? Most people would admit: not really.

Civics is learned in practice. And it starts small. Be honest in your business dealings. Speak respectfully in disagreement. Vote in every election, not just the presidential ones. Model citizenship for your children. Liberty is passed down by teaching and example.

Samuel Corum / Stringer | Getty Images

We assume America will survive automatically, but every generation must learn to carry the weight of freedom.

Start with yourself. Study the Constitution, the Bill of Rights, and state laws. Study, act, serve, question, and teach. Only then can we hope to save the republic. The next election will not fix us. The nation will rise or fall based on how each of us lives civics every day.

Civics isn’t a class. It’s the way we protect freedom, empower our communities, and pass down liberty to the next generation.

This article originally appeared on TheBlaze.com.

'Rage against the dying of the light': Charlie Kirk lived that mandate

PHILL MAGAKOE / Contributor | Getty Images

Kirk’s tragic death challenges us to rise above fear and anger, to rebuild bridges where others build walls, and to fight for the America he believed in.

I’ve only felt this weight once before. It was 2001, just as my radio show was about to begin. The World Trade Center fell, and I was called to speak immediately. I spent the day and night by my bedside, praying for words that could meet the moment.

Yesterday, I found myself in the same position. September 11, 2025. The assassination of Charlie Kirk. A friend. A warrior for truth.

Out of this tragedy, the tyrant dies, but the martyr’s influence begins.

Moments like this make words feel inadequate. Yet sometimes, words from another time speak directly to our own. In 1947, Dylan Thomas, watching his father slip toward death, penned lines that now resonate far beyond his own grief:

Do not go gentle into that good night. / Rage, rage against the dying of the light.

Thomas was pleading for his father to resist the impending darkness of death. But those words have become a mandate for all of us: Do not surrender. Do not bow to shadows. Even when the battle feels unwinnable.

Charlie Kirk lived that mandate. He knew the cost of speaking unpopular truths. He knew the fury of those who sought to silence him. And yet he pressed on. In his life, he embodied a defiance rooted not in anger, but in principle.

Picking up his torch

Washington, Jefferson, Adams — our history was started by men who raged against an empire, knowing the gallows might await. Lincoln raged against slavery. Martin Luther King Jr. raged against segregation. Every generation faces a call to resist surrender.

It is our turn. Charlie’s violent death feels like a knockout punch. Yet if his life meant anything, it means this: Silence in the face of darkness is not an option.

He did not go gently. He spoke. He challenged. He stood. And now, the mantle falls to us. To me. To you. To every American.

We cannot drift into the shadows. We cannot sit quietly while freedom fades. This is our moment to rage — not with hatred, not with vengeance, but with courage. Rage against lies, against apathy, against the despair that tells us to do nothing. Because there is always something you can do.

Even small acts — defiance, faith, kindness — are light in the darkness. Reaching out to those who mourn. Speaking truth in a world drowning in deceit. These are the flames that hold back the night. Charlie carried that torch. He laid it down yesterday. It is ours to pick up.

The light may dim, but it always does before dawn. Commit today: I will not sleep as freedom fades. I will not retreat as darkness encroaches. I will not be silent as evil forces claim dominion. I have no king but Christ. And I know whom I serve, as did Charlie.

Two turning points, decades apart

On Wednesday, the world changed again. Two tragedies, separated by decades, bound by the same question: Who are we? Is this worth saving? What kind of people will we choose to be?

Imagine a world where more of us choose to be peacemakers. Not passive, not silent, but builders of bridges where others erect walls. Respect and listening transform even the bitterest of foes. Charlie Kirk embodied this principle.

He did not strike the weak; he challenged the powerful. He reached across divides of politics, culture, and faith. He changed hearts. He sparked healing. And healing is what our nation needs.

At the center of all this is one truth: Every person is a child of God, deserving of dignity. Change will not happen in Washington or on social media. It begins at home, where loneliness and isolation threaten our souls. Family is the antidote. Imperfect, yes — but still the strongest source of stability and meaning.

Mark Wilson / Staff | Getty Images

Forgiveness, fidelity, faithfulness, and honor are not dusty words. They are the foundation of civilization. Strong families produce strong citizens. And today, Charlie’s family mourns. They must become our family too. We must stand as guardians of his legacy, shining examples of the courage he lived by.

A time for courage

I knew Charlie. I know how he would want us to respond: Multiply his courage. Out of this tragedy, the tyrant dies, but the martyr’s influence begins. Out of darkness, great and glorious things will sprout — but we must be worthy of them.

Charlie Kirk lived defiantly. He stood in truth. He changed the world. And now, his torch is in our hands. Rage, not in violence, but in unwavering pursuit of truth and goodness. Rage against the dying of the light.

This article originally appeared on TheBlaze.com.

Glenn Beck resurrects the 9-12 Project to support Charlie Kirk's family

Glenn Beck is once again calling on his loyal listeners and viewers to come together and channel the same unity and purpose that defined the historic 9-12 Project. That movement, born in the wake of national challenges, brought millions together to revive core values of faith, hope, and charity.

Glenn created the original 9-12 Project in early 2009 to bring Americans back to where they were in the wake of the 9/11 attacks. In those moments, we weren't Democrats and Republicans, conservative or liberal, Red States or Blue States, we were united as one, as America. The original 9-12 Project aimed to root America back in the founding principles of this country that united us during those darkest of days.

This new initiative draws directly from that legacy, focusing on supporting the family of Charlie Kirk in these dark days following his tragic murder.

The revival of the 9-12 Project aims to secure the long-term well-being of Charlie Kirk's wife and children. All donations will go straight to meeting their immediate and future needs. If the family deems the funds surplus to their requirements, Charlie's wife has the option to redirect them toward the vital work of Turning Point USA.

This campaign is more than just financial support—it's a profound gesture of appreciation for Kirk's tireless dedication to the cause of liberty. It embodies the unbreakable bond of our community, proving that when we stand united, we can make a real difference.
Glenn Beck invites you to join this effort. Show your solidarity by donating today and honoring Charlie Kirk and his family in this meaningful way.

You can learn more about the 9-12 Project and donate HERE

Glenn's Show Prep

What Made the Cost of Living Skyrocket in the Last 50 Years?

Are Gen Z's socialist sympathies a threat to America's future?

Without civic action, America faces collapse

Every vote, jury duty, and act of engagement is civics in action, not theory. The republic survives only when citizens embrace responsibility.

We assume America will survive automatically, but every generation must learn to carry the weight of freedom.

Taking up the torch

Start small and local

'Rage against the dying of the light': Charlie Kirk lived that mandate

Kirk’s tragic death challenges us to rise above fear and anger, to rebuild bridges where others build walls, and to fight for the America he believed in.

Out of this tragedy, the tyrant dies, but the martyr’s influence begins.

Picking up his torch

Two turning points, decades apart

A time for courage

Glenn Beck resurrects the 9-12 Project to support Charlie Kirk's family