• grue
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    1 year ago

    It took two hours of working minimum wage to buy an Elvis ticket ticket.

    Elvis ticket cost in 2023 dollars: $31

    But minimum wage is $7.25/hr, so $31 is more like four hou… oh wait.

      • grue
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        1 year ago

        I know! The point is that we’re seeing the combined effect of ticket prices increasing relative to inflation and minimum wage falling relative to inflation, compounding the unaffordability.

    • Dagwood222@lemm.ee
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      1 year ago

      I talk about the real cost of living all the time.

      1960 minimum wage was $1.00/hour and the cost of the average house was $11,000.00. Cost of the average house today is over $300,000.00. Minimum wage should be $30.00/hour, right?

      • Overzeetop@lemmy.world
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        1 year ago

        As someone who works in the residential housing industry, the difference between an $11,000 1960s house and a 2023 $300k house is staggering.

        Granted, nobody is building houses that are 750-900 SF with one bathroom and no garage (in the US) these days, mainly because they can make more per lot by building bigger, and land is what is in short supply (in desirable, public service areas).

        Houses are still impossibly priced for minimum wage because while housing prices have increased (median) 4-5% per year, wages have been lagging for two decades. And that really is a loss in buying power by about a factor of two.

      • Warfarin@lemmy.world
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        1 year ago

        Or you can just get a house that was built during that time period and is worth that much

        But nah you want all the modern comforts for less effort on your end like a true little virtue socialist

        • Dagwood222@lemm.ee
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          1 year ago

          So, you think that things like air conditioning were invented because of inflation?

            • Dagwood222@lemm.ee
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              1 year ago

              You used to pay more for things like an automatic transmission in a car, power windows, radio, and air conditioning.

              A VCR was an incredible luxury.

              At the technology improves, the price of things should go down.