[quote=EconProf]Actually, BG, I think his location was in the Bay Area.
Reading his blog, he seems to be peeved at people nit-picking his lifestyle and choices, and challenging his ideas. But he certainly does not advocate this for everyone. He simply claims that we could all do with a lot less status-seeking consumption if we chose to. And I like how he rips advertisers for shaping our values and habits.
The fact is that capitalism has delivered vastly higher living standards for everyone–rich and poor–in the past two generations. A growth rate of GNP per capita of 3% per year means a doubling in 24 years, and 3% was about our average from the 50’s through 2005. In the 1950’s, houses were far smaller, two-car garages were rare, houses had one black-and-white TV, (but not till the mid-fifties), and cars were clunkers that lasted about 100k miles. This is why he suggests if you want to know what you have to change in your life to live on $7000 per year today, ask your grandparents what they did in the 1950’s and 1940’s.[/quote]
EconProf, I was taught never to borrow for a vehicle and that, if new, they depreciate a minimum of $3K upon driving them off the dealer’s lot. I was urged to let someone else take the “new-vehicle depreciation hit.” After the “Certified Used” programs came out, I was taught to only buy a vehicle which was too old to qualify for the program because those (Cert Used) vehicles ALSO typically sell for a minimum of $3K over (Private Party) blue book (apparently not in 2011, though, lol). That $3K+ just goes into the salespersons’ pockets.
I’d be happy today to retire in a mid-century house, even if nothing was done to it. I definitely would want two bathrooms, though and many of them only have one. Unfortunately, they’re not $4K – $12K anymore (like they were *new*)! I could live with one TV or even no TV (as long as I had broadband internet svc) and I don’t mind driving a vehicle until it dies. My grandparents killed their own chickens, pigs and cattle for dinner, lol, and grew their own produce and canned it. I actually believe that it is cheaper today to buy food than it costs to grow it and water and feed it/fertilize it, not to mention all the work that this entails (plus processing/canning). Of course, with a well on the property, it might be cheaper to grow food but you would have to spend time at produce stands getting rid of the excess because it is perishable.
Except for my well-appointed home office, I’m really not that into new gadgets and don’t use some of the electronics I have to the degree that I thought I would. My cell phone is six years old and has voice only plus doubles as my mp3 player. I have a HUGE walk-in closet full of clothes which were mostly given to me by others as I wear a perfect size off the rack. Most still had tags hanging from them when I got them. I could wear a different suit every day for a month!
My food and household items cost about $160 – $200 month (yes, even on holiday months).
I need nor want for nothing and could “retire” frugally in the right house and location and be perfectly happy as long as I could hit the road on occasion :=]
