OK. What about the decrease in costs for most other items that you could ever want. With a lot of common and simple production moving to the third world, the average buying power of a dollar is going through the roof.
Think of the cost of a PC. $1000 four years ago, saw one for $250 this weekend. I just bought a refridgerator, washer, dryer, and a new stove - for $1600. Five years ago, the fridge alone would have been $1000 or more. New lawn mower. $125, same model line was $400 three years ago. A cheap import car a decade ago was at a minimum $15,000, now a new car can be had for $9000 - and the quality is not nearly as bad as some would think.
So, as some things are increasing (slightly) most other items are dropping. The high cost of homes is good for some people - as they are owners and are looking to profit. However, take note. High cost areas also have higher average wages. Someone in NYC or LA probably makes 25% to 50% more than someone in the Midwest for the same job. I could move two hours away to Chicago and make $35,000 more per year, easily, but my standard of living would not really increase all that much.
Think of the cost of a PC. $1000 four years ago, saw one for $250 this weekend. I just bought a refridgerator, washer, dryer, and a new stove - for $1600. Five years ago, the fridge alone would have been $1000 or more. New lawn mower. $125, same model line was $400 three years ago. A cheap import car a decade ago was at a minimum $15,000, now a new car can be had for $9000 - and the quality is not nearly as bad as some would think.
So, as some things are increasing (slightly) most other items are dropping. The high cost of homes is good for some people - as they are owners and are looking to profit. However, take note. High cost areas also have higher average wages. Someone in NYC or LA probably makes 25% to 50% more than someone in the Midwest for the same job. I could move two hours away to Chicago and make $35,000 more per year, easily, but my standard of living would not really increase all that much.
Anubis
No Lifer
Movies and cable TV aren't necessities. Housing prices are high, but interest rates are low.
You want to enjoy life more? Get a better job or marry a rich person.
You want to enjoy life more? Get a better job or marry a rich person.
If you look at figures published by the government, overall pay has NOT increased the past several years, and inflation is guestmated at between 2-3% a year. So the dollars you have today are not going to stretch as far as they did yesterday. If you are lucky enough to be getting 2-3% raises or better each year, then you have the same buying power (but might be spending more).
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