Yeah, my napkin math is probably superlative. The biggest factor is certainly housing - 1950s homes that cost $20k would easily cost 50x that today with similar lot size, layout and location. I think perspectives on what housing is 'comparable' are pretty squishy.

Inflation only accounts for 12x since 1950.

I think "median' might be adding some error to your analysis: I suspect skilled trades were probably earning more relative to median in 1950 than today's skilled trades earn relative to today's median. But wasn't able to find good historical numbers with a quick search.