7 ms·

>"$75.99 in 1997 which is $150 in today's dollars. Today the average PS5 game price is $70. That's half the price. If salary of the average Joe was doubled as

by FpUser 2y ago

>"$75.99 in 1997 which is $150 in today's dollars. Today the average PS5 game price is $70. That's half the price. If salary of the average Joe was doubled as well your logic would be ok. Bit it did not. P.S. It appears that I am wrong about median salary growth so my point should be discarded

dragonwriter 2y ago
> If salary of the average Joe was doubled as well your logic would be ok. Bit it did not. Using the most recent numbers against the last quarter of 1997, it actually increased to 2.29× the 1997 amount, well over double: Employed full time: Median usual weekly nominal earnings (second quartile): Wage and salary workers: 16 years and over Q4 1997: $508 / Q3 2024: $1,165 https://fred.stlouisfed.org/series/LES1252881500Q https://fred.stlouisfed.org/series/LES1252881500Q
- FpUser 2y ago
  Sorry, my wrong then
- atmavatar 2y ago
  To be fair, we should also consider expenses. All-Transactions House Price Index for the United States [1] Q4 1997: 204.87 / Q2 2024: 682.18 i.e., roughly 3.33x Median Consumer Price Index [2] 1997-12: 170.42938 / 2024-09: 353.73857 i.e., roughly 2.07 Take that as you will (I was mostly curious). Interestingly, it seems console prices have kept pace with inflation. NES at release: $180 ($428 adjusted for inflation) PS5 right now: $450 (standard) / $500 (slim) / $700 (pro) [1]: https://fred.stlouisfed.org/series/USSTHPI https://fred.stlouisfed.org/series/USSTHPI [2]: https://fred.stlouisfed.org/series/MEDCPIM094SFRBCLE https://fred.stlouisfed.org/series/MEDCPIM094SFRBCLE
  - dragonwriter 2y ago
    The CPI was already built into the discussion (the original discussion was inflation--CPI adjusted--prices, and this branch was about a comment that indicated that wages had not kept price with inflation) and the housing price thing just indicates that buying a house has gotten more expensive even adjusting for inflation, which is true but way afield of the discussion of game prices.

by FpUser 2y ago

dragonwriter 2y ago

> If salary of the average Joe was doubled as well your logic would be ok. Bit it did not. Using the most recent numbers against the last quarter of 1997, it actually increased to 2.29× the 1997 amount, well over double: Employed full time: Median usual weekly nominal earnings (second quartile): Wage and salary workers: 16 years and over Q4 1997: $508 / Q3 2024: $1,165 https://fred.stlouisfed.org/series/LES1252881500Q https://fred.stlouisfed.org/series/LES1252881500Q

FpUser 2y ago
Sorry, my wrong then
atmavatar 2y ago
To be fair, we should also consider expenses. All-Transactions House Price Index for the United States [1] Q4 1997: 204.87 / Q2 2024: 682.18 i.e., roughly 3.33x Median Consumer Price Index [2] 1997-12: 170.42938 / 2024-09: 353.73857 i.e., roughly 2.07 Take that as you will (I was mostly curious). Interestingly, it seems console prices have kept pace with inflation. NES at release: $180 ($428 adjusted for inflation) PS5 right now: $450 (standard) / $500 (slim) / $700 (pro) [1]: https://fred.stlouisfed.org/series/USSTHPI https://fred.stlouisfed.org/series/USSTHPI [2]: https://fred.stlouisfed.org/series/MEDCPIM094SFRBCLE https://fred.stlouisfed.org/series/MEDCPIM094SFRBCLE
- dragonwriter 2y ago
  The CPI was already built into the discussion (the original discussion was inflation--CPI adjusted--prices, and this branch was about a comment that indicated that wages had not kept price with inflation) and the housing price thing just indicates that buying a house has gotten more expensive even adjusting for inflation, which is true but way afield of the discussion of game prices.