More evidence of rising household wealth

from Mark Perry:

I see this trend in my parents homes. They bought a 1,200 sq.ft. cape for $14,000 back in 1970.

Around 1982, they traded up to a 2,400 sq.ft. colonial for $80,000. They finished paying it off around 2000 (after a second mortgage for college tuition payments, followed by refinancing).

I think the house is worth about $300,000 now.

I think it's amazing, especially because my parents never made more than $50,000 in a single year.