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According to inflation calculators, $10,500 in 1949 had the buying power of $109,848.97 today.
That's a pretty small house by today's standards, and you have to add the price of the land. These things were not all that cheap. Modest houses at modest prices. I see the quote saying these were 25% less expensive than a comparable conventional house. Of course a $109,848 building today would be rather shoddily built with the cheapest materials available.
I wonder how they were to live in? Metal houses. Any insulation?
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