alt Hacker NewsNo, that's not the case.
For instance, the median household income in the United States in 1976 was $12,686. That's $72,857.55 today based on inflation (Google/Census Bureau Data + online inflation calculator).
However, Google's AI overview says "As of early 2026, the median household income in the United States is estimated to be approximately $84,000."
So the the median household income in the US today is about $11,000 ahead of inflation since 1976. People in the US are richer now that they were then.
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I'd be curious to know if in '76, most households were dual income or single. My intuition is that many families could afford to have a parent stay at home with the kids back then.
Additionally, let's not ignore the fact that housing appears to have gotten more expensive disproportionately to income rising. And if two parents are working they often have to pay $1000+ for daycare
Ok, but, what about median household size? Shouldn't we calculate the "richness" based not on how much each household makes but how much each member of a household gets from it? My guess is that households are smaller these days, but don't know.
Now what about the change in the number of earners per household? Houses don't earn wages, people do.
The key terms in this discussion are disposable income and discretionary income.
Housing share if income has outpaced inflation, as have many other categories.
You can simultaneously make more and have less if your income doubles but rent goes from 25% to 50%
> in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today. (https://www.pewresearch.org/short-reads/2018/08/07/for-most-...)