NY Times Enlists Federal Reserve to Answer One of Cinema's Biggest Questions
The question that has plagued the minds of fans since 1990 may finally be coming to an end — just how much money did the McCallister family have in the beloved Christmas classic “Home Alone”?
The New York Times enlisted the help of economists from the Federal Reserve Bank of Chicago to get to the bottom of the family’s wealth.
The team turned to the iconic Chicago home to ultimately determine the McCallister’s are in the top 1 percent.
The home, which sits in one of the most expensive neighborhoods in the country, would have only been affordable with a household making $305,000 in 1990 or roughly $665,000 in 2022.
The economists went with the assumption the McCallisters did not spend over 30 percent of their income on housing.
The McCallisters in ‘HOME ALONE’ would be part of the 1% of top earners in Chicago to have to afford their house, according to the Federal Reserve.
(Source: https://t.co/LlADc7jCkE) pic.twitter.com/IopJIpE7NS
— DiscussingFilm (@DiscussingFilm) December 22, 2023
In addition, the economists made the determination by “looking at data including household incomes in the Chicago metropolitan statistical area for 1990 and 2022, the house’s property value, prevailing mortgage rates at the time, and typical taxes and insurance.”
“In 1990, the house was affordable only for the top 1 percent of Chicago household incomes, and that would still be the case today,” the report states.
So when the Wet Bandits sat in their van scouting out houses to burglarize, Harry was correct when he said, “That’s the one, Marv, that’s the silver tuna,” as the two looked at the Chicago home.
In addition to the rising cost of income needed to buy a home like the McCallisters, Kevin’s iconic grocery run from the film continues to climb in cost every year.
I think about this scene in Home Alone a lot, Kevin got all those groceries for only $19.83 pic.twitter.com/z2xGRCdRgi
— Kenny Lay (Parody) (@EnronChairman) October 20, 2023
Since Kevin McCallister took his iconic “Home Alone” grocery trip in 1990, prices have gone up almost 250% under #Bidenomics.
1990: $19.83
2022: $44.40
2023: $72.28 pic.twitter.com/8ePSwLlb1O— Rep. Tom Tiffany (@RepTiffany) December 20, 2023
The $19.83 grocery bill (with Kevin’s coupon included) would now cost you $72.28 if purchased this year due to the rising inflation under President Joe Biden. The price almost doubled in just a year, as 2022’s bill would have come in at $44.40.
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