February 28, 2024

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'Home Alone' Home Isn't a Bargain Basement Dwelling, Economists Claim – Deadline

'Home Alone' Home Isn't a Bargain Basement Dwelling, Economists Claim – Deadline

And since it's the holiday season, there's the eternal question. No, not if Santa Claus is real (we all know that's the case, Virginia). It's how wealthy the McAllister family was, in the iconography Home Alone The movie had a sprawling mansion in a tree-lined neighborhood and they were too busy going to Paris to remember poor eight-year-old Kevin.

the The New York Times I spoke with economists and professionals at the Federal Reserve to learn about the McCallisters. It turns out that — wait for it — they were probably in the top 1%.

The house used in the film's exterior shots is located on Lincoln Avenue in Winnetka, a Chicago suburb that is one of the wealthiest communities in the country. This is according to Realtor.com.

Three economists at the Federal Reserve Bank of Chicago analyzed some of the numbers to back that up, including area household incomes for 1990 and 2022, property values, mortgage rates at the time, taxes and insurance.

“Working under the assumption that the McCallisters spent no more than 30 percent of their income on housing, the economists also determined that the home would have been affordable for a family with an income of $305,000 in 1990 (about $665,000 in 2022).” The New York Times reports.

“In mid-2022, a similar home would cost about $2.4 million, based on Zillow’s estimates for the project. Home Alone a house. A home of that value would be affordable for a family with an income of $730,000, which would be among the top 1 percent of households in the Chicago area, economists said.

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So, yes, the McAllister family was very wealthy.

Now that that's settled, let's move on to another important question – what was the cast like? friends Can you afford those spacious apartments in New York?