“why”
Here’s a few things - the average cost of a new car in the 70s was about 10% of the average salary. Now it’s over 50%.
Airbag deployed on your car? You might be surprised to know that due to the replacement cost, many times insurance companies will total your car for that.
Thanks to creeping regs, just about every aspect of day to day life has increased in cost dramatically.
How about those home appliances? Very efficient but more expensive and break down more frequently. More expensive products that have to be purchased more often.
Also in the 70s, medicare was relatively new. That guaranteed captive audience of government purchasing raised cost of medicine dramatically too.
Immigration rates are more dramatic now. Now reason to hire from home when you’ve got all those illegals and H1B visas to choose from. Salaries kept down.
If you’re already “established”, the incremental cost of a thousand here or a thousand there won’t phase you.
But try starting from scratch and you might understand why many folks don’t move out of the house until they’re in their 30s.
You are so correct. I did a little comparison on three products awhile ago, comparing 1975 to now. Apples, bread and automobiles. All went up in price far greater than wage inflation.
Let’s not forget the punishing “family” court and divorce industry that makes most (Caucasian) middle class men think twice before reproducing. Wifey can just dump your arse, take half of what you have, leave you with all the marital debt to pay off, take away your kids (by trash talking dad) then take from 17 to 33% (and more) of your salary for the next 18-26 years.
My mother passed away 3 years ago, and while cleaning out her things, came across the invoice from the hospital for my oldest sister's birth. 1955, 7 days in hospital (shared room), anesthesiologist, attending OB-GYN, treatment for jaundice. Total $270. I calculated that was about 5-6% of my Father's yearly entry-level white-collar income at that time.
5-6% of today's median income would be about $2800-$3000. Cam you have a child in a hospital for that amount today?
Yes, things have become much more complex and expensive then they need to be. Up until the early 70s you could fairly crawl around under the hood of a car. Not now, too full of tubes and junk. Too complex and does not get from point to point any better.
I went to buy Kilz the other day. There are now at least 6, maybe 8, versions of that product now. Too much choice and too much complexity.