[eli_gottlieb]

There has been a large divergence in purchasing power between consumer goods, permanent assets, and lifestyle/durable goods. Everything that is a mere consumer good or lifestyle good (computers, meals out, washing machines, some cars) has gotten much cheaper. Everything that is at least partially an asset or lifestyle/status good (some cars, almost all real-estate, vacation time, health insurance, possibly a boat) has gotten much more expensive.

The result is a society in which people find it quite easy to obtain what their parents would have called frivolous luxuries (sushi), but quite difficult to obtain what their parents would have called basics (an affordable house in a good neighborhood).