Forums Chit Chat Bitcoin: does anyone get it?? Reply To: Bitcoin: does anyone get it??
#225
keith
10 Posts

Prices are relative, yes, but some are more relative than others. I’d like to see a comparison that takes the median income of a person every ten years from 1958 to 2018, and works out how many minutes’ worth of pay it takes to buy a pint of beer, a pint of milk, a bottle of Bordeaux wine, a bottle of Champagne, a litre or petrol, a kilo of potatoes and a kilo of bananas. I think we’d see that the time it takes to earn each of those things will have fallen substantially, but that the Bordeaux, the Champagne and the bananas will have fallen the most.

I think that the rule of thumb used to be that a bank would lend three times the household’s income. Back in the 1950s, that probably meant just the man’s income, since a good many women stopped working when they got married.

Nowadays, I see so many articles about how housing is unaffordable for so many “young people”, where young seems to bay anything up to the age of 35 or 40″.