Housing Costs up 14 Percent since 1983

While the cost of manufactured goods has declined in the last 30 years, some significantly, the price of some services has skyrocketed. TV sets have fallen 98 percent, clothing 46 percent and toys have dropped 78 percent, due mostly to automation and supply chain management, as manufacturing goes through what agriculture did at the beginning of the 20th century with tractors and harvesters replacing human labor, lowering the cost of food. Meanwhile, college tuition has spiked 227 percent since 1983, a hospital stay will cost 197 percent more, and prescription medicines are up 89 percent. Housing costs have risen 14 percent, according to what CNNMoney informs MHProNews. While manufacturing costs will likely continue to fall given 3D printing and other technologies, it is tough to automate a doctor’s appointment or a college class.

(Image credit: HousingWire)

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