What Was Expensive Is Now Cheap or Cheaper

I've  noted in the past that one of the key differences between when I was growing up back in the 1960s and 70s is that many of the things that were relatively affordable back then are today expensive and the things that were expensive are now much more affordable.  Take for instance televisions.  My parents bought a color TV set for our living room in the late 1960s and they had it until probably 1980.   These things were expensive back then and you had them repaired when there was a problem. Today of course TVs are basically mini-computers as well as ways to watch programming and a lot of folks buy a new one every couple of years.  But then the cost of these things has come way down.

The chart above shows what I've been saying.   The cost of things like college and health care have exploded to the upside while items like furnishings, TVs etc have declined on an affordability basis or remained constant.

A couple of other things that are different today than when I was growing up from this chart.  For one there was no cellular service or computers.  Also the line item for childcare really didn't exist back then as for the most part mom stayed home with the kids.  This was as true back then for the working class as it was for the middle class and white collar households.

Back Monday. 

Link: Carpe Diem:  "The Chart of the Century."