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Originally Posted by Isaac Zachary
Of course it also depends on how you measure inflation. What a person's actual wages is a big factor too.
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In 1993 I was making zero dollars ($0 adjusted for inflation). In 1997 I was making $8.20/hr ($16 adjusted for inflation) as an intern. 2003 I was up to $17/hr ($28 adjusted for inflation). Now about $40. So, 2.35x more pay in 2 decades, not adjusted for inflation.
Quote:
Originally Posted by darcane
Prices of any product should decrease as competition drives them downward. My point was, and is, the last three years have had an alarming increase in price. 2022 alone had a higher rate of inflation of since the disruption to the car market in WW2, wiping out decades of price drops.
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While we're sensitive to moments in time, the trends predict prices to further fall. The 2008 financial collapse "wiped out" a lot of gains, and then we gained it all back and more. In 2020 the stock market lost 1/3rd of the value in a matter of days, and we got it all back.
No idea what to predict with used vehicle pricing, but every good and bad situation is transitory.