Rising prices - Wow!

Trade said:

Sticker shock: Car prices top $50K for first time in US, Kelley Blue Book says​


https://finance.yahoo.com/news/stic...me-in-us-kelley-blue-book-says-142036091.html
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According to Google AI the average price of a new vehicle in 1974 was approximately $4,441.

I entered the workforce in 1974 and was making $7,500.00/year.

All things considered, it’s easier for me to buy a new car today than it was back then.

Pay attention to the news but don’t buy into the panicky hype just continue to make good choices and do what feels right for you and your situation.
 

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HazyDavey said:
You betcha, a box of Cheerios, $9.49

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Thanks for the reply's on my post but I thought I better say that I didn't buy the Cheerios for $9.49. I did just stand there looking at it for a bit, muttered something, then walked away. I can usually find something more reasonable, like the store brand selling the same thing.
Nope, I won't drink the Kool-Aid or buy the Cheerios..
 
Knight said:
Meal planning & cooking at home so prices haven't impacted us very much.

All major food stores are within a 4 mile loop of driving, so going where the bargains are isn't costly. Tomorrow @ Smith's a 10 to 18 lb. butterball turkey $00.97lb. several meals by breaking it down & cooking what is planned. Albersons while out shopping sirloin pork chops $00.97 a lb. will buy at least 5 lb. & vacumm seal those for future meals. Albersons 8 ounce block or bag of shredded cheese $1.67.Turkey parmesan comes to mind as a future meal. Albertsons 12 eggs $1.97. Flan, cheese cake, home made pasta, gnocchi, ham & eggs, egg salad just a few uses. Best will be baby back spare ribs $2.99 lb. Still warm here so sons will be over for BBQ'ed ribs.
Might even go to La Bonita Spanish super market to pick up Hass large avocados 2/for $1.00
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I shop like you do, Knight and always check the sale circulars before shopping.

In driving distance, I'm within 6 miles of Costco, Aldi, Trader Joe, a large specialty produce store with great prices, a large Korean market, and a Walmart. I order some items online from WM and do free pickups.

So while my groceries have increased some (notably coffee), it hasn't been dramatic because we don't eat meat and consume relatively little dairy.

The prices of everything else is skyrocketing. As I said in my original post, 6 hot dog meals set me back $166. Seriously? Can't see a return trip there. My car is due for routine maintenance. No idea what that's going to cost, but for sure it will be pricier than a year ago. If it weren't still under warranty, I wouldn't be taking it to the dealership, that's for sure.
 

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StarSong said:
I shop like you do, Knight and always check the sale circulars before shopping.

In driving distance I'm within 6 miles of Costco, Aldi, Trader Joe, a large specialty produce store with great prices, a large Korean market, and a Walmart. I order some items online from WM and do free pickups.

So while my groceries have increased some (notably coffee), it hasn't been dramatic we don't eat meat and consume relatively little dairy.

The prices of everything eles is skyrocketing. As I said in my original post, 6 hot dog meals set me back $166. Seriously? Can't see a return trip there. My car is due for routine maintenance. No idea what that's going to cost, but for sure it will be pricier than a year ago. If it weren't still under warranty, I wouldn't be taking it to the dealership, that's for sure.
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Food is our biggest expense. As for car we only need one & it's a 2024 Kia Soul. Have USAA insurance that gives discount for low mileage that is tracked on our cell phone. Typical monthly mileage has been 150 miles. Maintenance I always use Walmart they use synthetic oil & brand filters all point check. Been for $54.00 could be higher now since getting 3000 miles takes awhile.

We do gambol a couple times a week but that is something we have as entertainment. We get comped meals so as an expense eating out, only the tip money is all. As of right now in January I took $1,600.00 to spend. Been coming home with either break even or a few hundred ahead, total ahead by $2,600.00.
 
Aunt Bea said:
According to Google AI the average price of a new vehicle in 1974 was approximately $4,441.

I entered the workforce in 1974 and was making $7,500.00/year.

All things considered, it’s easier for me to buy a new car today than it was back then.

Pay attention to the news but don’t buy into the panicky hype just continue to make good choices and do what feels right for you and your situation.
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The average wage in 1974 was $8,030 per year. So that average new vehicle cost of $4,441 was was about 55% of an average years wage.
The latest available data for the average wage is 2023 where it's $66,681. So lets' say it's now around $70,000 in 2025. That means the average new vehicle cost 71% of an average years wage.

The reason it's easier for you to buy a new vehicle today then in 1974 is that you are now doing a lot better financially than you were in 1974. According to what you are saying you must be making 85K per year or more. So your comparison is an apples to oranges one.

And you know what? I'm doing quite a bit better than I was in 1974 too. So are most of us as we get older. But that does not mean that the average working stiff is. He or she is still about 30 something years old just as he or she was in 1974.
 
C50 said:
I have told my friends and my children I will no longer be going out to eat. While I may enjoy a few bites of the food I just don't feel I get the value I should be getting for the prices charged, plus I don't enjoy the way much of the food is prepared, too much spice.
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Its the seed oils with me and the high fructose corn syrup. Its also that most places dont have chefs but they have cooks that heat things up or cook processed crap they have shipped in. My flora hates the unhealthy slop served at the majority of places . It takes me 2 days to feel healthy again. If its a highend restaurant with a chef that cooks with healthy ingredients,Im in love! I cant afford those kind of joints all of the time.
 
Trade said:
The average wage in 1974 was $8,030 per year. So that average new vehicle cost of $4,441 was was about 55% of an average years wage.
The latest available data for the average wage is 2023 where it's $66,681. So lets' say it's now around $70,000 in 2025. That means the average new vehicle cost 71% of an average years wage.

The reason it's easier for you to buy a new vehicle today then in 1974 is that you are now doing a lot better financially than you were in 1974. According to what you are saying you must be making 85K per year or more. So your comparison is an apples to oranges one.

And you know what? I'm doing quite a bit better than I was in 1974 too. So are most of us as we get older. But that does not mean that the average working stiff is. He or she is still about 30 something years old just as he or she was in 1974.
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Thanks for mansplaining that to me, Trade.
😉🤭😂

In 1974 I was driving a $500.00 hooptie and living paycheck to paycheck. I managed to figure it out and I’m confident that today’s young folks will figure it out too.

Today, I have a 2025 vehicle that cost a little more than half the new car average. If that wasn’t an option for me, I would have figured something out.

“Do what you can, with what you have, where you are.” - Theodore Roosevelt
 
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The 1990s were the best decade fiinancially for my family and most of the middle class people we knew at that time. In the decade from 2000 to 2010, we felt a strong economic slowdown and constant concern of mass layoffs, particularly from 2007 - 2008.
 
Now isn't the same world I grew up in. Remember how odd it was to see a branch bank for the first time? Usually it was just across the street to catch traffic in the opposite direction or was where there was room to accommodate drive thru lanes?

Remember shopping for appliances how different companies would offer different features? Now there are just a few companies that own all the brand names, with little variation. As consumers we seem to have a lot less choice, and a whole lot less customer service.

This isn't even considering the whole change in retailing from store fronts to online.

Perhaps I just am old, but from my view, it's just not the same ball game, and a whole lot more people aren't going to be able to afford admission to watch it.
 
MACKTEXAS said:
The 1990s were the best decade fiinancially for my family and most of the middle class people we knew at that time. In the decade from 2000 to 2010, we felt a strong economic slowdown and constant concern of mass layoffs, particularly from 2007 - 2008.
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The Clinton years were good to me too.

I took a huge hit in The Great Recession 2007-2009.

and here we are!

“You simply have to put one foot in front of the other and keep going. Put blinders on and plow right ahead.” - George Lucas
 
Speaking of car repairs....I just learned that their labor cost went up to $200 an hour. The parts cost nothing compared to my labors charges. Paid over $1000 for new rear brakes and some heater hoses, coolant kits..etc.
For a new speedometer the part needed will cost about $100 and the rest in labor totaled out at over $500.

One good thing, the owner is giving me a discount for paying cash. I felt a little better.
 
dobielvr said:
Speaking of car repairs....I just learned that their labor cost went up to $200 an hour. The parts cost nothing compared to my labors charges. Paid over $1000 for new rear brakes and some heater hoses, coolant kits..etc.
For a new speedometer the part needed will cost about $100 and the rest in labor totaled out at over $500.

One good thing, the owner is giving me a discount for paying cash. I felt a little better.
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you need a local mobile mechanic to come and do those smaller jobs for you..... that's ridiculous $500 labour for $100 part
 
Makes me yearn for better days. Back in 1967 I worked a 2nd shift at a plastics factory making $1.40 an hr. Down at the Ford dealership, a brand new base Mustang fastback cost $2592. And a Shelby GT 500 was $4200. (427 Shelby Cobra was $7500).
Fast forward to today... Minimum wage now $7.25 (although it varies in some states).
A new Base Mustang fastback is $33,915 and the starting MSRP for a 2025 Ford Mustang Shelby GT500 is around $109,445. :eek:
 
squatting dog said:
Minimum wage now $7.25 (although it varies in some states).
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I'm not disputing your post, just expanding on it. $7.25 is just the federal minimum wage which has remained unchanged since 2009. A very low percentage of workers get only $7.25 / hour. The reason [you wrote] it "varies in some states" is because those states have minimum wage laws of their own, meaning their workers get the state minimum, not the federal minimum.

I believe it was around a year ago, a local ice cream shop owner stated on a TV news report that she was paying her employees $21.00 an hour. For an ice cream server working full time, that is $43,600 a year. I also noticed in post #115 that certain mechanics are now earning $200 / hour. If they are able and allowed to work full time, they would be taking in $416,000 / year!

And everyone feels sorry for waiters. When 6 of us went out to eat recently and the average tab per person was $22.00, that = a total of $132.00 for the 6 of us. The restaurant added an 18% tip which was $24.00. He was waiting on at least 5 tables, so if all were similar, he collected a total of $120 in one hour, plus whatever the establishment paid him.

The waiter has far more expendable income than me, and the auto mechanic is paid more than the Chief of Police in Ft. Worth Texas (who earns $320,000 / year). This picture is very wrong, yet there are many who feel wages need to keep rising to keep up with inflation. As long as they think that way, they should need not to expect any relief in prices.
 
@MACKTEXAS. This wasn't aimed at your post. reading through all these posts just had me longing for the past. I chose the Mustang story because it actually was something I knew first hand. As a young spud, it was such a great feeling to be able to buy such a car as a Shelby GT 500 on my puny wage. Hindsite now shows I should have held onto that car. I can't even imagine myself buying a new Shelby these days. :)

I sold that car in early 68, just before I went in the Army. Want to hear the stupid reason I sold it? I thought the tail lights were the dumbest thing ever. :eek:
 

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