One of the things about getting old is that you have a long memory. You remember how much everything used to cost. And as the years go by, and the prices go up, you are repeatedly shocked by the prices of things. Like the price of hotel rooms, for instance.
I had a budget for years of always paying less than $100 for a decent room. Then that number increased to $150 to $180. Now all bets are off, and I have no budget. I thought of spending a couple of days at the Ritz-Carlton in Half Moon Bay. Maybe splurge $300 – $500 a night. Forget that – it was $1,000 a night.
Doesn’t $1,000 a night seem a bit excessive for anything other than the Presidential Suite in a fine hotel? Maybe I’m just out of touch with things. I think the best way to control your expenditures and get the best value today is to purchase a car, plane, hotel package. Those are still quite affordable, especially at places like the Costco Travel website. It’s fun being able to mix and match different hotels, airport departures, and the number of vacation days for many locations all over the world. But know that a departure from Redding, Sacramento or San Francisco airport can vary the airfare by $1,000. So, check all of the combinations.
Have you noticed restaurant price creep, now that people are going out more after being vaccinated? A simple breakfast for two, with coffee and tip, at a no-frills local restaurant comes in just shy of $50. A nice dinner will always be $100 plus. Alcoholic beverages other than beer are at least $10. How can the average person or family afford these prices? I’m not saying that the restaurants are gouging us – it’s just the way things are today.
And no wonder. The Red Bluff Dell Taco was advertising starting wages of $14 per hour on their sign. Experienced folks in other occupations weren’t getting much more than $15 per hour not too many years ago – even with a college degree. So, how can the food be cheap when the labor costs are so high? And I’m afraid that this is just the beginning. Those folks with skills and experience, and who’ve had their positions for a while, aren’t going to stand for someone with zero experience earning just a tad less than them. So, everyone’s wages are going to have to go up – as well as the prices. I think things are going to get worse. It’s just simple arithmetic.
Since cars are in such supply because of the chip shortage, I’ve been told that folks are getting letters from dealers asking if they want to sell back their slightly used cars for as much (or maybe more) than they paid. The Tesla Cybertruck has a current starting price of $39.9K for its 2022 launch. That doesn’t sound particularly exorbitant for a DeLorean-like futuristic electric pick-up truck.
I think the low home mortgage rates (i.e., the 3% range) are what is keeping things under control. I remember my 10% rate, some thirty years ago. That’s a big difference in monthly payments, believe me. Although I realize that today’s purchase prices are much higher. The financial gurus have been concerned about inflation lately. If we see those mortgage rates start to skyrocket, then that, coupled with the general increase in the cost of goods, will be a significant double-whammy for any new home buyer.
Add the costs of medical care, insurance, and higher education, and I think things may get even tougher. Let’s keep our fingers crossed and hang in there. After all – what choice do we have?
Corky Pickering and his wife relocated from the Bay Area to Cottonwood in 2014. He recently retired from the federal government as an attorney advising law enforcement. He has been a rock and roll bass player and a Marine JAG. He can be reached at thecork6@gmail.com.
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September 30, 2021 at 05:00AM
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Things have gotten expensive - Red Bluff Daily News
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