If this had been a daytime shot, I doubt it would have even caught my eye, but with their signs lit up, I love the juxtaposition of having a store that sells shoes for $2.50 next to a bar. (The one of the other side sells seeds and poultry supplies, which you’d never find in downtown Los Angeles these days!) These stores were at 421 S. Main St when this photo was taken in around 1913, back when two bucks fifty probably bought you a halfway decent pair of shoes.
Andie P. says: “In 1912, the shoes would have been high top shoes, leather with cloth “uppers” and thinner soles (leather) than work boots for that price. All leather shoes would be more.”
Stanley G says: “Notice the double-track, dual-gauge street railway. The outermost rails on each track were used by standard-gauge Pacific Electric Ry. interurbans (the “Big Red Cars”) and streetcars. The rail closest to the center of the street on each track and the nearest rail away from that were used by the narrow-gauge streetcars of the Los Angeles Railway, ie the “Yellow Cars.”
There’s no trace of that building left. This is that same view in June 2022.
That’s equivalent to $74.95 today.
Possibly if you based it on something like bread. Of course, taking Los Angeles common real estate, $2.50 from 1969/70 accelerated by 40 times to $100.00! Take that from 1913 to 1969, it must have at least tripled in that time, so your $2.50 (for cheap shoes) would be setting a price of about $300 today. And we all know real estate inflation is a far more significant pain in the budget than the jump in bread loaves. Conclusion…either leather inclusive shoes are currently underpriced or real estate is hanging on a precarious cliff.
Based on inflation values widely available Stephen’s number is dead on. That ~$75 figure is the equivalent purchasing power today of $2.50 in 1913. The real estate price and rental market price escalations that Al is suggesting are certainly of concern for we Californians and it’s a great point. However, that same $75 amount today would still buy you a decent pair of mid level boots. It’s simply that the property market growth has way outpaced inflation and income growth for most. Our LA of today is more New York/Paris/Tokyo than the farm lands and oil fields market of 1913 and our housing costs reflect that. Great points by all and this is such a great community. I enjoy Martin’s posts everyday and the comments the community shares in response/reflection.