Quote:
Originally Posted by Keith P.
At the risk of going down memory lane too far, I look at things these days and there is no comparison. I live in a house with 4-season climate control, have a great car, big-screen TVs connected to the internet that can show me pretty much anything ever produced on demand, etc etc. I see new arrivals here every day driving nice cars and renting or buying new accommodations. The education and skill levels of many people today allow them to enjoy lots of things were never dreamed about. I remember my childhood goal was to go to a Leafs or Habs game one weekend with my parents, and they often talked about doing that, but we never did. It was always just out of reach. Now people drop 5 figures on vacations to Disney or wherever without batting an eye. Adventuresome couples travel the world. It is a totally different world.
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Someone put it well: luxuries have become necessities and necessities have become luxuries.
There's no doubt that consumer goods and things like travel have never been more affordable. My 50" flat screen TV was half the price, in nominal dollars, than the 21" CRT we bought on Boxing Day when I was 12. Flights today cost essentially the same, in nominal dollars, as they did 15 years ago (i.e. they're much cheaper, inflation adjusted). And even things like cars, which have gotten god-awful expensive in terms of out-the-door price, are more accessible due to the financial smoke and mirrors of 84 month loans.
At the same time, food and housing now eat up most of the budget of anyone who didn't buy 10 years ago.
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