Miami Property Management Blog

Friday, February 18, 2011

48 Years Ago Coconut Grove Art Festival Came To Town

1962

Forty nine years ago the infamous Coconut Grove Art Festival  rolled into town.

Forty nine years ago... what was life like in South Florida at that time. That got us thinking and doing some research online.

The year was 1962. How much did things cost in 1962? What was life like then, when the first annual Coconut Art Festival was created?
  • Yearly Inflation Rate in the USA was 1.20%
  • Year End Close Dow Jones Industrial Average 652
  • Average Cost of new house $12,500.00
  • Average Income per year $5,556.00
  • Average monthly rent $110.00 per month
  • Tuition to Harvard University $1,520.00
  • Average Cost of a new car $3,125.00
  • Eggs per dozen 32 cents
  • Gas per Gallon 28 cents
  • Factory Workers Average Take Home Pay with 3 dependents $94.87
What world events happened in 1962? Did any of theses events have direct effects on South Florida?
The answer in one word-absolutely for this was the year of the Cuban Missile Crisis. The then President Kennedy ordered embargo of the following goods :

  • Tobacco
  • Fruits
  • Vegetables
  • Seafood
On a lighter note 90% of the US population own a television, Britain and France agree to develop the Concorde, the Indian  Prime Minister  was Jawahar Lal Nehru , Brazil wins the World Cup in Chile,The Beatles released their hit "Love Me Do" and  "To Kill A Mockingbird" was seen on the big screen.
2011
And so ... this weekend we celebrate the Coconut Grove Arts Festival... 48 years from its inception.... see you there!!

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