Can you please explain what's been inflated. I bought my first house in the 1980s for16% mortgage.. You could buy CDs paying 10%. And the inflation stayed high into the Reagan administration. I know food is high, but that's due to the greed of the food conglomerates. A 2 liter bottle of soda I drink went from 2.69 to 3.39 in a matter a of few months. But what else is inflated, and I'm not being naive, I'm just trying to understand
Ok.
How much did you buy the house for in the 80’s?
How much did you make as a wage (per hour or yearly salary - not overtime) in the 80’s?
How much is the house you bought in the 80’s worth today?
How much is your wage (per hour or yearly salary- not overtime today?
How much was a loaf of bread, a gallon of milk, a chocolate bar, a T-bone steak, a dozen eggs, a pound of butter, a pound of flour, a pound of flour, and a pound of coffee in the 80’s?
How much is a loaf of bread, a gallon of milk, a chocolate bar, a T-bone steak, a dozen eggs, a pound of butter, a pound of flour, a pound of flour, and a pound of coffee today?
How much did a gallon of gas cost in the 80’s around the corner from your house?
How much does one cost now in the same neighborhood as your 80’s home?
What was the average cost of a new family sedan/van in the 80’s?
What is the average cost of a new family sedan/van today?
How much did you spend outfitting your kids for a new school year in the 80’s?
How much do parents spend today outfitting their kids for a new school year?
Remind me what was the minimum wage where you lived in the 80’s?
And what is the minimum wage now?
Let me know if you don’t yet see the inflation.
I’ll start us off. My parents bought their first house in the 80’s paying those same kinds of interest rates. They paid $49,000 for a 3 bedroom bungalow.
So, I just looked up the sale price of the same style of bungalow as my parents owned on the very same street - literally just a few doors down from my childhood home - $699,000.
And just for giggles - minimum wage was highest in the 80’s at $3.35/hr and currently stands at $16.55/hr.
Nothing to see here.