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The burning question surrounding the 1990 Christmas classic "Home Alone" has finally been answered by economists at the Federal Reserve Bank of Chicago. Just how rich is the McCallister family? It's a question The New York Times now has an answer to as the Federal Reserves has determined Kevin McCallister's family is in the one percent of Chicago residents based on the value of their home.
According to The Times, the economists at the Federal Reserve Bank of Chicago revealed that "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 home would have been affordable to a household with an income of $305,000 in 1990 (about $665,000 in 2022)."
So, it turns out that Peter (John Heard) and Kate McCallister (Catherine O'Hara) would've been earning at least $305,000 annually in 1990 (or about $665,000 in 2022) to afford the house, which is located on the North shore of Chicago. Zillow estimated in 2022 that the house was worth about $2.4 million. This sheds light on why thieves Harry (Joe Pesci) and Marv (Daniel Stern) specifically target the McCallister home as the one to rob in the film.
"That's the one, Marv, that's the silver tuna," Harry says in the movie, realizing the McCallisters are wealthy and their home must contain a lot of "top-flight goods."
The McCallisters are a wealthy family
The revelation about the McCallister family's wealth has sparked discussions among fans who have long speculated on their financial status. It's not cheap to take 15 family members on a Christmas vacation to Paris, which is the inciting incident that leaves the young Kevin home alone. However, wealth clearly runs in the family as Kevin mentions that his uncle paid for the family's plane tickets.
While "Home Alone" never reveals what Kevin's parents do for a living, it has long been assumed that mother Kate worked as a fashion designer given the home has mannequins in it.
For those curious about the full breakdown of the McCallister family's income, The New York Times' website offers a detailed analysis.
The economists' findings have finally put an end to the speculation and shed light on the McCallister family's affluent status, providing a new perspective on the classic holiday film.