That was 1998 or so. My RV6 cost to build - 8 years, $80k, and one wife.
Everything would be a lot more expensive today, and thankfully wife two is working out great.
Updated prices in today dollars: I took those images with kit prices and plotted them for original and today's prices and did a % change comparison. Its really interesting.
View attachment 52447
View attachment 52448
From 2010-2020 prices increases slowed down on average for the -7 kits (both QB and SB).
After 2005 Empennage kits for the -6 were no longer sold, so I used the -4 Emp kits as an estimate.
I'm not surprised that the price jump we're seeing now for kits probably corresponds to getting closer to inflation rates over the last ~25 years (if you average the % change its ~4.2% for kits and ~5% for QBs on the RV-7)
Looking at the inflation rate over the same period:
View attachment 52449
Average rate over this period is ~2.44% per year
(source: https://www.macrotrends.net/countries/USA/united-states/inflation-rate-cpi)
Your last chart is misleading. The time period says 19979 to 2024, but the DATA only goes to 2022 (not 2023).
From BLS
It's *really* easy to start getting nonsensical results when using this sort of data...year-to-year rates by month, monthly rates averaged over a year, etc. Then trying to match that data to prices that are changed at various points in time throughout any year, etc.
Just sayin'.
yeah i noticed that when I downloaded the raw data, I will update my previous post with that asterisk.
And gold was $400/oz vs $2000+ today.And a gallon of gas was around a buck fifty in 97.
And a gallon of gas was around a buck fifty in 97.
Probably looks even better when you factor in the years from jig building an RV4, to match hole RV6/7, to pre-punched.
And a gallon of gas was around a buck fifty in 97.
Made first flight in my RV-6 in September 1997. I typically could fly all day (3 to 4 hours on the hobbs) on a tank of AvGas and fill up for $35.
In 2023, that fill up averages $135.
In the late '80s, early '90s, I budgeted $75 per week to build my RV-6 and projected an expense/budget of $35K. When I was finished 8.5 years later, I had $50K invested. IF you add 4% inflation per year, I was very close to being on budget. A new Lycoming 160 HP engine from Van's was $12K. I purchased a wrecked Piper for $2,600 and rebuilt the engine to new specs and had $12K in it when it was ready to go in the RV-6. I paid cash for the engine and parts used as I had the money. Had I gotten the new engine, that would have incurred a finance charge.
I need to see if I still have the paper order form. I think when I started, the complete four RV-6 kits where less than $10K.
Meanwhile the rise in our income hardly matches this trend, unless you part of a group that you are not flying RV but a nice business jet.And gold was $400/oz vs $2000+ today.
Meanwhile the rise in our income hardly matches this trend, unless you part of a group that you are not flying RV but a nice business jet.
While I agree with you about cherry picking data to make a point, I believe it would hardly be disputed or cherry picking to suggest the income of average folks has not kept up with the rise in prices, hence the shrinking of the middle class.This highlights the problem with cherry-picking data points from a dataset.
By January of 1980, gold was (however briefly) trading in the $700-850 range, or well over 2500 in today's dollars. But just imagine if you'd only had the prescience to buy at *precisely* the right time in the past! Wouldn't that have been something?
Anyone can look like an investing genius if they cherry-pick dates in the past to show how great some investment vehicle is.
While I agree with you about cherry picking data to make a point, I believe it would hardly be disputed or cherry picking to suggest the income of average folks has not kept up with the rise in prices, hence the shrinking of the middle class.
It's a bit of a meaningless assessment anyway. To really understand how much more wealthy you have to be now to afford a kit you have to add in the inflation of all the necessities in life. House price, car, food, power, clothes, phone, internet, insurance, etc... Meanwhile you only have one income to offset all that cumulative inflation.This is going to get this thread closed down, as well, but...
Are you *sure*? The median income for 1997 was 37K. In 2022 (most recent full year), it was 74.5K. In inflation-adjusted dollars...that 37K in 97 is 67K in 2022 dollars. So the median income growth *exceeded* the rate of inflation over that time period.
It's a bit of a meaningless assessment anyway. To really understand how much more wealthy you have to be now to afford a kit you have to add in the inflation of all the necessities in life. House price, car, food, power, clothes, phone, internet, insurance, etc... Meanwhile you only have one income to offset all that cumulative inflation.
I'm only pointing out that the unceasing whining about how awful things are now compared to [pick a date which makes your arithmetic work out to support your woebegone state] is often based on woolly thinking and rather poor use of statistics.
This is going to get this thread closed down, as well, but...
Are you *sure*? The median income for 1997 was 37K. In 2022 (most recent full year), it was 74.5K. In inflation-adjusted dollars...that 37K in 97 is 67K in 2022 dollars. So the median income growth *exceeded* the rate of inflation over that time period.
According to the US Census Bureau the middle class income in 2021 was $65k.
https://www.investopedia.com/financ...arch Center defines,to the U.S. Census Bureau.
(emphasis added)The median income in the U.S. was $65,000 in 2020 (regardless of household size).
Ah, statistics again. No, that's not what the article said. It said, and I quote,
(emphasis added)
Precisely the metric I was using, and not at all the same as the RANGE of incomes that are associated with DIFFERENT household sizes and therein defined as "middle class".
Did you READ the whole article?
For the guys on a shoe string budget, this is how you get in the air with a new construction these days for under $40 or $50k…
I know this isn’t for everyone, takes some patience, and may or may not have some work to correct… but it is untrue to say the frugal flyer doesn’t have a spot in todays RV-world.
https://vansairforce.net/community/showthread.php?t=222807
For the guys on a shoe string budget, this is how you get in the air with a new construction these days for under $40 or $50k…
I know this isn’t for everyone, takes some patience, and may or may not have some work to correct… but it is untrue to say the frugal flyer doesn’t have a spot in todays RV-world.
https://vansairforce.net/community/showthread.php?t=222807
I’d like to see your math.
For the guys on a shoe string budget, this is how you get in the air with a new construction these days for under $40 or $50k…
I know this isn’t for everyone, takes some patience, and may or may not have some work to correct… but it is untrue to say the frugal flyer doesn’t have a spot in todays RV-world.
https://vansairforce.net/community/showthread.php?t=222807
Sorry, I could not resist.
I just wanted to point out that the ad you pointed out there, while it is an incredibly good deal, does not seem to indicate a Finishing Kit is included. What is that going to cost and when will you receive it? 15K to 19K?
Van's has been saying since November 2017 that RV3, 4 and 6 kits could be eighteen months or more wait.
And these cheap engines people seem to talk about over the years seem to be harder to find.
20 years ago Greg Hughes built a 6 for $35k.
I don’t think it’s impossible. However, 20 years ago Greg Hughes built a 6 for $35k. It was remarkable enough then it got written up in several publications.
That was 20 years ago.