1997 price adjusted for inflation is equivalent to which year’s nominal price (for the upper tier)?
[/quote]
I plugged Dec 1996 and Dec 2008 into the calculator below and I got an accumulated inflation of 32%.
So, take your 1997 price, multiply by 1.32 and that is what this guy is predicting. Of course, you’ll have to tack on your own guess for future 2009 and 2010 and 2011 inflation rates.
One item to note is that while the US in general was at a long-term trend line in 1997, Southern California was below it’s long-term trend line at that point.
