Re: [Pen-l] Query

["Jim Devine" <jdevine03@xxxxxxxxx>]

I wrote:
>  here are some other prices from 1936:

but this time, I translate them into current dollars by multiplying by 15.36

>  Average Cost of new house $3,925.00 --> $60,288

since the current price of an average house is likely much higher than
that, house prices have gone up faster than prices since 1936, perhaps
because land is so much scarcer? or homes are bigger or of higher
quality? or labor is more expensive?

>  Average wages per year $1,713.00 --> $26,311.68

according to the BLS, the median yearly wage & salary payment for the
first quarter of 2008 is about $43,5950 (assuming a 50-week work
year). So wages increased faster than prices. Workers have gotten some
benefit from their increased productivity.

>  Cost of a gallon of Gas 10 cents --> $1.56

Clearly, gas prices have risen relative to inflation more expensive,
likely because of scarcity. But it's also possible that part of the
rise was quality-driven.

>  Average Cost for house rent $24.00 per month --> $368.64

this has gone up with the purchase price, much faster than suggested
by mere inflation (i.e., my calculation).

>  A loaf of Bread 8 cents --> $1.23
>  A LB of Hamburger Meat 12 cents --> $1.84

no comment.

>  Studebaker Car $665.00 --> $10,214.4

that's not very far off, though it is if the Studebaker was a luxury
car back then.

>  Ladies Swimming Costume $6.95 --> $106.75

that seems about right, but there's less fabric these days...

-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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