Inflation calculator
https://www.in2013dollars.com/us/inflation/1945?amount=10
February 4, 2022
- look at your dinner last night: meat, fruit/vegetables, grains – are getting more expensive
- an average family of 4 will have to spend an extra $800 per year on food
(800/12 = $66 more per month)
- to some families, this is unaffordable: buy the packaged food/dinner – not very nutritious since they are full of preservatives
- check the price of gasoline in Toronto (this morning, regular gas is at $1.57/litre, all time high)
Kwok’s car 60 litres x $1.57 = $94 to fill up
Inflation (things get more expensive over time)
- clothing, rent, food, fuel, household items, haircuts
- you are born in 2009 or 2010
- your money, say $100, will buy less over time (in the future)
- use $100 for the calculation
Start Year | This year 2022 | How much is worth today | |
1945 (end of Second World War | 2022 | $1548.90 | It will cost $1548 today to buy the same item |
Grandparent’s birth year 1965 | 2022 | $885.09 | |
Parent’s birth year 1979 | 2022 | $384.02 | |
Your birth year 2009 or 2010 | 2022 | $129.96 |
- over time, things get more expensive and your buying power is reduced
- GTA (Greater Toronto Area, Toronto, Vaughan, Mississauga, Thornhill, Rich Man Hill, Markham, Ajax, Whitby etc) Population in 2021 was about 7.2 million live in the GTA
- the government is projecting that the population in the GTA will go up to 10 million by 2025
- Kwok thinks the housing prices will continue to go up by about 10% per year
- it is possible that the price will not go up as much – BUT there is NO land in the city of Toronto
- inflation story – BE NICE TO YOUR PARENTS so you can inherit their properties
No comments:
Post a Comment