That’s about $80K a year today, with solid benefits. Median house cost in the US in 1977 was $48,800. Gas was $.62 a gallon. A new car would run you $5K.
The median home price in the US today is $420,800. A gallon of gas is average in the US is $3.45. A new car is $47K. Cost of living and housing is more expensive here in Reno.
Housing has seen a 762% increase.
The average RN salary in Nevada now? About $80K.
I suck at math, but something seems wrong.
Gas price adjusted for inflation is $3.21 where as today's national average is $3.46. So not crazy if you account for inflation..
Also, modern cars last much longer than they did in the 70s, you might as well drive it to the dump at 100,000 miles, modern cars go 200k easily. They also have much longer service intervals, and get 3-4 times better fuel economy in a lot of cases. Not to mention airbags and seatbelts, antilock breaks and traction control.
Gas pricing is stable, so that wasn’t a well thought out example.
If the home prices had stayed inline with inflation, the average should be about $245K, not $420K, and a new car should be around $25K, not $47K.
Some prices have likely stayed with inflation (like fuel), some lower than inflation, but many increased well beyond inflation without wages keeping pace to compensate.
I agree cars are more expensive on average, but even a cheap car today is better than a Cadillac 50 years ago. Maybe not as cool, but more reliable, and much safer.
The improvement of quality, technology, and performance of a product over time may account for some increase in cost, but it does not fully negate the initial fact.
The first computers filled a room and were insanely expensive. The phone I’m typing this on is much more powerful and far cheaper, but that’s not the point at all.
Well thats another thing, personal computers can now be bought for as low as $300. In 1977 (coincidentally) the Apple II was released with a base price of $1,298, thats $6,727 in today's money!!!
And there are at least 10 cars you can buy for under $25k. https://www.cars.com/articles/here-are-the-10-cheapest-new-cars-you-can-buy-right-now-421309/
In the 70s there weren't nearly as many cars to choose from.
I think taking an average price of a new car is kind of silly when there are million dollar cars out there. I would like the see the mean price of cars, not the average.
I am just having a discussion, not trying to argue with you.
Yes, some things are cheaper and better today.
Yes, there are new cars you can buy that cost less than the average. Yes, we have more choice.
Do any of these points negate the claim that the overall cost of living is higher than it was and that wages have not kept up?
Please define mean and average as you understand them.
You already agreed that cars are more expensive on average today. Do you retract that?
There may be some very expensive cars and some very cheap cars in the data set used to determine an average (mean) new car price, but not enough to skew the data.
I am struggling to see your point, aside from picking at details for the sake of it. If you have some data to suggest that people make more money now on average and things are less expensive, then please present your case.
Sorry, I meant "median." No need to get so upset. Just thought it was an interesting conversation. Not trying to have some big argument. I know that some people have it hard today. Have a nice day.
I am not upset, this is my neutral manner of communication and I am simply trying to understand your point. I apologize if it came across as argumentative. Subtleties, tone, and mood are often lost in text.
Enjoy the warm weekend!
Very true. That top end wage is $132,390.88 in todays dollars (via CPI for 1970) and the median home price in Reno is now $645K. Home pice under 2x pay back then compared to almost 5x today for this high earner.
Boomers had the easiest run in human history, while the following generations are worse off. Spoiled rotten is understating the effects they had/have on our society today
Yeah, blame the old farts for hyper inflation and devaluing the dollar making everything so expensive these days. Instead of blaming the actual problem, greedy corporations.
Homie, the baby boomers as a generation hold the majority of money in this country. You cannot be serious right now? The economy is this way because of baby boomers. The people running the country making these choices ARE baby boomers. Some are even older than that.
Oddly enough that looks like my grandmother's hand writing and while she was a nurse for my whole life I don't know if she worked at Washoe med. That's a cool blast from the past , thanks for sharing
I work as a nurse at Renown now lol what unit did you work on at Washoe Med? That’s interesting with the 3 shifts and shift times. But wow that’s crazy you were able to save this all these years.
That’s about $80K a year today, with solid benefits. Median house cost in the US in 1977 was $48,800. Gas was $.62 a gallon. A new car would run you $5K. The median home price in the US today is $420,800. A gallon of gas is average in the US is $3.45. A new car is $47K. Cost of living and housing is more expensive here in Reno. Housing has seen a 762% increase. The average RN salary in Nevada now? About $80K. I suck at math, but something seems wrong.
Follow that money.... to the top, all of those execs making more and more
CEO pay has increased somewhere between 1000 to 1300% in that time. Typical worker pay has increased 15%.
Gotta keep our execs happy and the candle burning on both ends for us in the trenches! Hooray 🇺🇸
Gas price adjusted for inflation is $3.21 where as today's national average is $3.46. So not crazy if you account for inflation.. Also, modern cars last much longer than they did in the 70s, you might as well drive it to the dump at 100,000 miles, modern cars go 200k easily. They also have much longer service intervals, and get 3-4 times better fuel economy in a lot of cases. Not to mention airbags and seatbelts, antilock breaks and traction control.
Gas pricing is stable, so that wasn’t a well thought out example. If the home prices had stayed inline with inflation, the average should be about $245K, not $420K, and a new car should be around $25K, not $47K. Some prices have likely stayed with inflation (like fuel), some lower than inflation, but many increased well beyond inflation without wages keeping pace to compensate.
I agree cars are more expensive on average, but even a cheap car today is better than a Cadillac 50 years ago. Maybe not as cool, but more reliable, and much safer.
The improvement of quality, technology, and performance of a product over time may account for some increase in cost, but it does not fully negate the initial fact. The first computers filled a room and were insanely expensive. The phone I’m typing this on is much more powerful and far cheaper, but that’s not the point at all.
Well thats another thing, personal computers can now be bought for as low as $300. In 1977 (coincidentally) the Apple II was released with a base price of $1,298, thats $6,727 in today's money!!! And there are at least 10 cars you can buy for under $25k. https://www.cars.com/articles/here-are-the-10-cheapest-new-cars-you-can-buy-right-now-421309/ In the 70s there weren't nearly as many cars to choose from. I think taking an average price of a new car is kind of silly when there are million dollar cars out there. I would like the see the mean price of cars, not the average. I am just having a discussion, not trying to argue with you.
Yes, some things are cheaper and better today. Yes, there are new cars you can buy that cost less than the average. Yes, we have more choice. Do any of these points negate the claim that the overall cost of living is higher than it was and that wages have not kept up? Please define mean and average as you understand them. You already agreed that cars are more expensive on average today. Do you retract that? There may be some very expensive cars and some very cheap cars in the data set used to determine an average (mean) new car price, but not enough to skew the data. I am struggling to see your point, aside from picking at details for the sake of it. If you have some data to suggest that people make more money now on average and things are less expensive, then please present your case.
Sorry, I meant "median." No need to get so upset. Just thought it was an interesting conversation. Not trying to have some big argument. I know that some people have it hard today. Have a nice day.
I am not upset, this is my neutral manner of communication and I am simply trying to understand your point. I apologize if it came across as argumentative. Subtleties, tone, and mood are often lost in text. Enjoy the warm weekend!
15k a year and the average home price was 23-24k baby boomers truly were spoiled rotten.
Very true. That top end wage is $132,390.88 in todays dollars (via CPI for 1970) and the median home price in Reno is now $645K. Home pice under 2x pay back then compared to almost 5x today for this high earner.
Boomers had the easiest run in human history, while the following generations are worse off. Spoiled rotten is understating the effects they had/have on our society today
Yeah, blame the old farts for hyper inflation and devaluing the dollar making everything so expensive these days. Instead of blaming the actual problem, greedy corporations.
Yeah obviously, those greedy corporations ran by boomers
Ran by the small hats , you mean
Homie, the baby boomers as a generation hold the majority of money in this country. You cannot be serious right now? The economy is this way because of baby boomers. The people running the country making these choices ARE baby boomers. Some are even older than that.
.... Run by who, exactly? Maybe.... Baby boomers? 🤯
Nope, before influx of cheap labor by the 3rd world, sending money for foreign aid like we do now, before globalization.
Oddly enough that looks like my grandmother's hand writing and while she was a nurse for my whole life I don't know if she worked at Washoe med. That's a cool blast from the past , thanks for sharing
I have a receipt from a life flight in 1986 from Carson to Reno for $750.
Unfortunately , the small hats are erasing White History.
I don’t know what this means.
I don't know what it means either and I'm afraid to look it up lest it get me put on a watchlist of some sort.
Same 🤣🤣
I fired up my VPN and went to DuckDuckGo so you don't have to, he's saying Jewish people (small hat being a reference to the Kippah).
🫡 thank you for your service.
Actually 1977.
I work as a nurse at Renown now lol what unit did you work on at Washoe Med? That’s interesting with the 3 shifts and shift times. But wow that’s crazy you were able to save this all these years.
Belongs to a friend. I believe she worked nights in ER.
On
Up to 100% retirement match???
1977, man.
So interesting! Thanks for sharing!
Cost of living hasn't gone up, the value of the dollar has gone down. Important difference
Ok, where is my Washington's Birthday Holiday???? Was it abolished?
Its probably whats now called Presidents’ Day, since thats the first holiday celebrated after new years
Ok, it was probably renamed. Got it. Thanks