Unfortunately, the "purchasing power" figures supplied by the Bank are ludicrously adrift of reality.
For example, the Old Age Pension of my grandfather in 1938 was ten shillings (50 pence) a week. From that he paid his rent and fed and clothed himself respectably. A glance at the long lists of positions for (domestic) Cooks, Drivers, Parlour maids etc at the same period and during the 39/45 war shows NONE of them paid as much as 50 pounds a year. A 'working man' considered himself well paid on £2-50 a week and raised large families on it.
Today the single pensioner gets around £70 (140 x the 1938 level). A live in cook today commands £15 to £20000. Other domestics (not that I have any) similar amounts. Likewise the 'average' working wage.
As for Housing !! My first house (1967) cost £4750--00 : I am told that SAME house (sadly no longer mine) would sell for £550000 to 600000. When first built in 1922 it cost its purchaser (a Stockbroker) £800--00
As the Americans say, "Go figure !" Percy
