Scary Economics-- borrowing from our kids
One of the first ways you become aware of the aging process (mental, let's not even go INTO physical), is when you start comparing the cost of different things from one point in your life to another.
When I was 25 I thought this was funny. Now it's becoming scary.
Like, when I was 25 I compared the cost of a loaf of bread from the time I was 8. I only happened to remember this because I have a vivid memory of my father commenting on the subject at the time (My God! Bread is $.29 a loaf!?!?) These observations would inevitably lead to lectures about the difference since HE was a child ($.05) and would include a whole list of other things that a nickel could buy at the time.
Back to when I was 25: Then bread was about $1.29. When I was 8, it was $.29. Same thing with gas prices (for the same reasons and, actually, practically the same difference in prices!).
But NOW only the off-brand breads are under $2.00 and the same with Gas, if that.
The housing market is even worse. When I was 8 a nice home in a nice area could be bought for about $25-30K dollars, a mansion could be had for $200,000. When I was 25 a decent home could be gotten for about $65,000. Now? It's scary. $200K barely buys a decent home in this country.
I look at my kids who may be entering the housing market in about 10 years. I say "may" because, at the rate things are going, they may not be able to-- not in this country, anyway. Because by then the price for a nice starter condo will probably start at $300k.
Something's got to change.
When I was 25 I thought this was funny. Now it's becoming scary.
Like, when I was 25 I compared the cost of a loaf of bread from the time I was 8. I only happened to remember this because I have a vivid memory of my father commenting on the subject at the time (My God! Bread is $.29 a loaf!?!?) These observations would inevitably lead to lectures about the difference since HE was a child ($.05) and would include a whole list of other things that a nickel could buy at the time.
Back to when I was 25: Then bread was about $1.29. When I was 8, it was $.29. Same thing with gas prices (for the same reasons and, actually, practically the same difference in prices!).
But NOW only the off-brand breads are under $2.00 and the same with Gas, if that.
The housing market is even worse. When I was 8 a nice home in a nice area could be bought for about $25-30K dollars, a mansion could be had for $200,000. When I was 25 a decent home could be gotten for about $65,000. Now? It's scary. $200K barely buys a decent home in this country.
I look at my kids who may be entering the housing market in about 10 years. I say "may" because, at the rate things are going, they may not be able to-- not in this country, anyway. Because by then the price for a nice starter condo will probably start at $300k.
Something's got to change.
posted by Marige | 4/26/2006 09:51:00 AM
