- 25 Aug 2023 05:42
#15284158
In 4 years, U.S. home prices increased 69%, car prices 31%
Between 2019 and 2023, the typical home price increased by 69%, while the average car price increased 30.7%.
further details about those figures below...
The median U.S. home price was $258,000 in 2019. But the median home price is now $436,800 as of 2023. That's a 69% increase.
(source: "The U.S. median home price increased 6.2 percent in 2019, hitting an all-time high of $258,000." ATTOM (attomdata.com) )
Average price of car as of May 2019 - $36,718
Average price of car as of March 2023 - $48,008
That's a 30.7% increase.
Some of this has to do with inflation, but I think some of it may also have to do with some other factors. Many of the prime areas in the U.S. are getting overcrowded, population growth has been leading to housing shortages and a scarcity of nearby open space to build.
When it comes to cars, increasing government regulations and mandates - extra safety features and stringent demands on increases in fuel efficiency - are making cars more expensive.
These price increases are symbolic of, and are going to result in quality of life and standard of living going down for the average American.
It also makes one question whether the official inflation figures claimed by the government (20% from 2019 to 2023) fully account for all the inflation that has actually happened.
Between 2019 and 2023, the typical home price increased by 69%, while the average car price increased 30.7%.
further details about those figures below...
The median U.S. home price was $258,000 in 2019. But the median home price is now $436,800 as of 2023. That's a 69% increase.
(source: "The U.S. median home price increased 6.2 percent in 2019, hitting an all-time high of $258,000." ATTOM (attomdata.com) )
Average price of car as of May 2019 - $36,718
Average price of car as of March 2023 - $48,008
That's a 30.7% increase.
Some of this has to do with inflation, but I think some of it may also have to do with some other factors. Many of the prime areas in the U.S. are getting overcrowded, population growth has been leading to housing shortages and a scarcity of nearby open space to build.
When it comes to cars, increasing government regulations and mandates - extra safety features and stringent demands on increases in fuel efficiency - are making cars more expensive.
These price increases are symbolic of, and are going to result in quality of life and standard of living going down for the average American.
It also makes one question whether the official inflation figures claimed by the government (20% from 2019 to 2023) fully account for all the inflation that has actually happened.
- By Rich
- By Unthinking Majority
- By RealPolitic