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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (58637)1/17/2001 1:17:41 PM
From: Les H  Read Replies (2) of 436258
 
Can't really measure subjective term as "better car". Have people suddenly started keeping their cars for a much longer period. Given the trend toward leasing, I think not. If anything, much of its value is being lost through depreciation or shows up as profit to the lessor as a higher resale price.

The general idea is that the basket of goods is considerably different over time, and using hedonics to dummy down the price of acquiring those goods cheats lendors, savers, and pensioners. Considering that the price of a car according to the BLS has grown 38% in over ten years should be an obvious enough example.
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