How Much Is It Worth--$$ comparison update
 

Not to hijack Bob's thread which is very good by the way, but holding everything in perspective when we talk 'price' of about anything today, look at what inflation has done to your dollars in just the last 30 years or so.

We all talk about that '$1000 Coupe' we missed out on in 1967, that sort of thing. Today the price is 652% higher for the same money.

But you can't compare 1967 dollars or 1973 dollars or even 1990 dollars with 2019 dollars. It gives you a whole different perspective. The $40,000 house you bought in 1973 would be a $270,000 house in today's money.

It's insane. What has happened in a relatively short time. Plug in your own values and take a look.


https://www.officialdata.org/1967-do...18?amount=1000

Re: How Much Is It Worth--$$ comparison update
 

Jeff, IMO the single-most thing that has caused inflation is wage increases. Labor is just too expensive in this country now.

Re: How Much Is It Worth--$$ comparison update
 

Thanks for the link Jeff. I enjoy analyzing how buying power has changed over time. Different sectors of our economy experience different levels of inflation. If my 29 A sold for $500 it would theoretically sell for $7345 today. However that comparison cannot be made because we are buying a different product today. Safety features, computer operated systems, etc. I assume a new car today can’t be purchased for under $8000 in the US no matter how basic. I guess we could compare the cost of a quart of whole milk in 1929 and today! Meanwhile I love Bob’s calculator for giving me a range of the price people list their cars for when attempting to sell them. Thanks for the brain exercise!

Re: How Much Is It Worth--$$ comparison update
 

Jeff, IMO the single-most thing that has caused inflation is wage increases. Labor is just too expensive in this country now.





Funny that you should say that Brent, because it is always stated that the avg family earned 53k a yr in 1973 and that the avg family now earns 57k a yr.


google it............... but I do agree with you. Labor rates are crazy.

Re: How Much Is It Worth--$$ comparison update
 

Ronn i'm sorry but i think that the 1970's number seem to be backward, it should be $37,000 then i would agree. I haven't worked in 20 years (getting old) but it seems that when you pay someone to work a non skilled job at a minimum wage of $15 dollars and hour skilled labour is through the roof. I'd like to know what brent and other shops have to pay for their labor force. These are skilled pe0ple. Jack

Re: How Much Is It Worth--$$ comparison update
 

The minimum wage in Connecticut in 1961 was $1.15. In 2018 it is up to $10.10.

Not quite ten times.

A $25,000.00 house in 1961 could be a $250,000.00 house today just with inflation.

My parents bought my first Model A in 1962 for $200.00. I would today consider it a low end driver. It was all orginal.

If we still owned it today, in the same condition, I would never sell it for $2,000.00. Mostlikely somewhere it the $9,000.00 to $11,000.00 range.

I think over the last 50 years, they have exceeded inflation. Just my humble opinion.