Re:2012 vs. 1984: Young adults really do have it harder today
by mattmiller on Friday May 11, 2012 @09:33PM
(#3962300)
I hear the argument about how products have improved over time and how that justifies their increased price and I don't buy it. It makes sense if people still have the option of buying the 1980s house in which case purchasing a 2012 house would be an expensive luxury. But people can't get the 1980s house for the 1980s price so we must conclude that housing prices have inflated.
Both have outpaced inflation. Canada's had the same commodities boom as Australia, Chile and Russia. Housing bubble obviously hadn't hit. yet. ( I hear they balance their budget and don't give away tax deductions for going into debt so maybe they won't have as bad a one).
Other obvious question is : have houses improved over almost 30 years making the question of average priced house then vs average prices house now a bit cloudy.
$6000 for tuition??? Not a bad deal. Canadian government must be subsidizing it. Maybe it was higher subsidies back then.
Bottom line cherry picking your comparisons are hard.
Unemployment was worse then: http://research.stlouisfed.org/fred2/graph/fredgraph.png?...
But duration was better : http://research.stlouisfed.org/fred2/graph/fredgraph.png?...