Basically some things have gotten cheaper – TVs, gas, etc. – but things like inflation-adjusted housing or college prices have increased so much that people affected by them have a very different experience. This is a constant refrain many people I know who are under ~50 or so have where older relatives simply don’t understand that, say, they could go to UCLA with a part-time summer job because prior to Saint Ronnie that meant book and lab fees, and at first tuition was an order of magnitude lower (adjusted for inflation).
That creates enormously different beliefs because someone who bought a house in 1982 and has been rolling equity forward ever since has no idea what the subjective experience is like for their kids who graduated with heavy debt service and rents 50% higher.
https://www.consumeraffairs.com/finance/comparing-the-costs-...
Basically some things have gotten cheaper – TVs, gas, etc. – but things like inflation-adjusted housing or college prices have increased so much that people affected by them have a very different experience. This is a constant refrain many people I know who are under ~50 or so have where older relatives simply don’t understand that, say, they could go to UCLA with a part-time summer job because prior to Saint Ronnie that meant book and lab fees, and at first tuition was an order of magnitude lower (adjusted for inflation).
That creates enormously different beliefs because someone who bought a house in 1982 and has been rolling equity forward ever since has no idea what the subjective experience is like for their kids who graduated with heavy debt service and rents 50% higher.