Yeah I have a house, though now it isn't the investment it once was. My uncle growing up bought a different house moving up each time and selling the house he had at a profit each time. My experience was just the opposite. Real estate does not always go up and I got burned more than once. Still not complaining. Though not things go up the same, there is no question that the value of money has decreased. My dad wouldn't buy me the $30 to $40 Stingray because he couldn't afford it. He got what he could do with what he had to do with. I remember nights hearing them talk when they didn't know I could hear them, worrying about how they could make the house note. One month of a house note now would have paid for over a year of theirs. For many people renting isn't a bad move. Even then if you factored in the interest you paid vs the value of the equity, vs the cost of the loss of revenue from the money you didn't pay in interest, tax deductions, ect and compare that with the cost of renting, for many the comparison would be shocking. It all goes back to fact that the law of supply and demand can not be repealed by Congress. The more of something thats out there, the less its worth.
The other thing that is difficult is finding numbers that are truly fair and do not have a vested interest in their results. The official numbers are tied to many programs that involve official expense and if they raise the inflation number, they have to raise the amount of the checks they write. Makes one take their work with a grain of salt. Food is a key part of what we buy and its prices are rising rapidly, but they leave food out of the computation of the CPI now. Last time I checked, I still eat. The loaf of bread I sold for $.19 as a boy delivering groceries, I bought yesterday for nearly $2.
Still the point you make is valid. Not everyone needs the really expensive bike. You might want one, you may be able to afford it, and it maybe fun to own, but are you really going to ride that much better? Putting me on that bike wouldn't make me a better cyclist. I'd enjoy it, but Id still be a Fred. Fact is the best bike for you is the one you enjoy riding. If that's the 85 Schwinn you got for $80 or $4500 Mercian or any other custom top dollar bike, unless it adds something to the experience it doesn't matter. One day I might buy me one of those old cool Stingrays with the shifter. I am far less stupid now and having a kid now wouldn't be smart anyway. Read somewhere they were going for about $400 or so now or more. There just are not that many of them still around, and the money to buy them is worth less. Do I need a Schwinn Stingray? No but I might do it anyway.