Sure but think back and remember saying the same thing about a $40,000.00 house on a dollar and a half per hour .
Inflation
- Thread starter Tecumsehsbones
- Start date
First off, I don't think Joe Public gives too much of a shit about private sector strikes. But they give lots of shits when Joe Public-Servant goes on strike. It takes a special kind of hubris for those fuckers to demand we make do with less so they can have more.
In 1968 the highest minimum wage in Canada was $CA 1.25 per hour. So your mom's car cost 1600 hours of minimum-wage labour.
Now the Canadian Federal minimum wage is $CA 16.65 So that Mitsubishi costs 901 hours of minimum-wage labour.
Housing numbers are harder to find, but as you weep and wail over house prices, please remember that the minimum wage is about 15 times what it was in '68.
bought my house in 83 49,9 and thought I was paying too much.
if only I'd known I could have bought 2 houses and sold one 5 years later to fully pay off both houses.
In the 60s you could have got a pretty nice house in a good neighborhood for like 20 to 30k.
using minimum wage as a barometer, 15 times 30 grand gets you a shack in Toronto.
if only I'd known I could have bought 2 houses and sold one 5 years later to fully pay off both houses.
In the 60s you could have got a pretty nice house in a good neighborhood for like 20 to 30k.
using minimum wage as a barometer, 15 times 30 grand gets you a shack in Toronto.
well it's not the only barometer of course.
I was only using it to compare what it could buy then with what it could buy now.
pack of smokes costs more than minimum wage now (for name brands); back then you could get 2 packs for your dollar minimum wage. I think it was like 45 cents a pack when I first started buying them. kids could buy smokes back then.
another barometer might demonstrate how the rich get richer. if you invested 2 grand wisely back then and never touched it just kept letting it grow, your 2 thousand dollars could well be worth closer to 10 million by now. < 5 million anyways. I was thinking 70 years instead of 60.. whatever
I was only using it to compare what it could buy then with what it could buy now.
pack of smokes costs more than minimum wage now (for name brands); back then you could get 2 packs for your dollar minimum wage. I think it was like 45 cents a pack when I first started buying them. kids could buy smokes back then.
another barometer might demonstrate how the rich get richer. if you invested 2 grand wisely back then and never touched it just kept letting it grow, your 2 thousand dollars could well be worth closer to 10 million by now. < 5 million anyways. I was thinking 70 years instead of 60.. whatever
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My first car was a brand new 1968 volkswagon bug. I worked part time in grade 12 and earned .90 cents an hour. My grandparents put down the down payment on the car that was purchased for $2500 and I made the car payments, insurance & gas based on what I earned at the A&W I worked at. I also had savings. It was a totally different world back then!
Nope, it was pretty much basic. But I loved that car, even when 18 wheelers passed me on an uphill climb LOL. Had a ton of fun in it.
I got my first speeding ticket in my bug. It was all of $10 but when I was stopped & the cop said I was speeding (going 60 mph in a 50 if I remember correctly) and I started to laugh & said that I didn't think I could go that fast (it was downhill LOL). He was sitting at the bottom of the hill.
Actually, my parents had gotten a divorce so we moved from N. Alberta to Edmonton. We didn't have a vehicle but my uncle had a VW bug & likely thought it was exactly what we needed - cheap & cheap to run.
In 2003 put a bid on a house for $178,000. I wasn't happy with the inspection so didn't follow through. That same piece of crap house is now probably worth $800,000.
I guess it still applies > buy 2 and sell 1 5 years later to pay them both off.