I probably am overestimating the average 1950s standard of living. But I'd argue you're also overestimating how far $62k could take a family of 5 in CA. Even in the poorest of neighborhoods, far outside of city centers (where you probably wouldn't even be making $62k btw)... even then... I highly doubt you could support a family of 5, and I can guarantee that you would not be buying a house.

I maintain that both of these things were (generally) more accessible in the 1950s.