This One Change in 1971 is Why EVERYTHING Is So Expensive Now
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 19 August 2025
⏱️ 22 minutes
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Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Did you know that a car used to cost $3,500 in 1971? |
| 0:06.7 | And that same car today is over $50,000. |
| 0:10.2 | And the question is why? |
| 0:12.5 | Yeah, this is a question that I think some of you are aware of. |
| 0:15.7 | But one of the reasons why inflation is so important is because it's really changed, obviously since the 70s, |
| 0:22.9 | when Nixon took the dollar off the gold standard, which is and is called the Nixon shock. |
| 0:28.9 | So you're going to hear us today talk about compared to what. So compared to what means, |
| 0:35.0 | you know, when you decouple the dollar from gold, literally decouple |
| 0:39.9 | it, because it used to actually be tied to gold. So when you decouple it, what does that do? |
| 0:46.0 | It gives the government the ability to print. And so why is that important? It's important because |
| 0:52.6 | you now have more dollars in circulation. We created |
| 0:56.4 | this whole credit bubble, which you guys have all experience. And I know I'm going back a little bit |
| 1:01.8 | here, but, you know, this is obviously 50 years in the making. But if you take a look at, let's |
| 1:09.3 | say the cost of a house back in the 70s, you're talking, they're in the $20,000 range. |
| 1:16.1 | Now they're in the $400,000 range. |
| 1:18.5 | So the question you should be asking is not necessarily, are you a great real estate investor? |
| 1:24.0 | The question is, why? |
| 1:26.9 | Why did a house go from $20,000 to over $400, why? Why did a house go from 20 grand to over 400,000? |
| 1:31.5 | That's the question. |
| 1:33.2 | And the answer is because of what's been happening with the dollar. |
| 1:38.8 | So the dollar actually has gone down in purchasing value during that period of time |
| 1:43.9 | because there's been so |
... |
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