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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Amy J who wrote (18097)3/4/2004 11:06:45 AM
From: GraceZRead Replies (3) of 306849
 
Is there any statistic (created outside the govt) that one can use instead, for measuring inflation?

I keep every receipt, I can tell you what I paid for bread in 1987. I have detailed household budgets over the last 16 years. The mix of expenses has changed over time but my household budget has grown slower than the government stated official inflation rate even though there have been elements like insurance which have grown in spurts. They've been offset by other elements that have declined. Some of that has been smarter shopping (looking for sales, outlet buying, internet purchases), but for all the smarter shopping there has been upticks in our living standard like a new kitchen, a pool and a third car, etc.

I happen to live in a high inflation state that borders on another state with an area which is economically depressed. I do my shopping for food and services in that other state. A simple example: if I shop for groceries at the store on the way home, which is near an area with million dollar homes, I can pay 1.5 times what I do shopping at my regular store five miles north in PA and get the exact same things. The PA store has a Walmart across the street that sells groceries. A plumber would cost half as much.

I visit CA about once a year and have been for 30 years. I'm always shocked with the price inflation out there and how difficult it is to escape by making changes in buying habits, as I am also shocked when I visit NYC at how difficult it is for them to benefit from the falling prices I take for granted. I was told that what I paid for my 36 foot pool wouldn't buy more than a spa in CA and my sofa would be an ottoman in NYC.
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