It's interesting to consider cars as a nice example given the role of tech and productivity gains in pushing prices DOWN; and yet it's the reverse. W debasement, and nothing else, I'd expect holding steady. Seems like there's scarcity / status effects at work - cars as baseball cards.

I do think the other factor is regulation narrowing the focus of the manufacturers to higher end so they can make a profit. From MPG to emissions rules the state has once again distorted the market away from affordability. This would be a counter to the debasement. Same is true in housing, appliances, food and many other areas.

Money is the base no one talks about and regulations are mostly considered to cut into profits but actually reduce choice and hurt the lower income most.

Sir this car has a small screen in the dashboard. Now pay $10k more