Put yourself into this situation: you have decided to go for coffee after school and get lunch. You can pop into Starbucks and order a Frappuccino for almost $7, then you go next door to Chronic Tacos where you spend upwards of $15 on food; just this one meal for one person can cost almost $25 nowadays, and this is normal. The cost of everything, especially in Southern California, has gone up tremendously thanks to debt and general inflation. 

Prices are not just rising in terms of the common day things like food and merchandise; gas prices are at an all-time high, and the auto and home market are out of control. This is becoming unmanageable for so many people because thanks to the pandemic there was so much loss that came in so many forms. Many people lost their jobs, business was rapidly declining in sales, and medical bills were piling up with so little release. Along with the pandemic we constantly see our income gap widening, the rich are getting richer, and the poor are getting poorer. 

Along with inflation another factor that is significantly driving prices higher is the problems with supply chains and getting products into stores. An article by Yahoo News writes, “Also sending prices higher: The ongoing pandemic has complicated supply chains, limiting supply, even as demand for goods soars.” In other words, people still have needs and are constantly shopping, but the pandemic has significantly changed the system and it is hard to keep up with the demands.

Housing prices are at an all-time high, and in places like Yorba Linda where there’s so much new development, you are seeing prices upwards of $450 a square foot – which is relatively unheard of. With the market being on fire, so many people are selling their homes but have nowhere to go and end up renting or downgrading. One thing that is to be said about the housing market is that it is constantly fluctuating. ith so much of a high at the moment some people are predicting that a recession is in the near future. 

The auto market as previously mentioned is also on fire. Companies like Tesla have months-long waiting lists, and it is nearly impossible to find good used cars. Because of this, there is a significant rise in using companies such as Carvana to easily sell your cars and be able to purchase and trade in for new ones. Tesla is a luxury car company that not many people can casually afford. With the right amount of demand and the amount of backup with the supply chains at the moment, there has been a significant backup which has then led to people being able to sell Tesla cars and reservations for more than a 15% profit. 

With so many people trying to shop with no supply, they are willing to pay higher prices. Especially in places where people are becoming more wealthy and less cognizant of what they are paying for, companies feel free to raise their prices and there is no end to how high they can go. Adil Ismail (10) adds that “Prices are getting a lot higher and I think it is going to have a lot of bad effects”. This is becoming a serious problem and is going to have more dire effects the longer it continues.